The procedure is correct. Taring /nsr is an additional precaution. NW will leave all internal database files on the disk. It will update them, if necessary.
Be aware of package dependencies. For De-Installation, use this sequence:
1. NW server
2. ND Storage Node
3. NW Manual Pages
4. NW Storage Node
5. NW Device Drivers (if installed)
6. NW Client
When installing the software, reverse the sequence.