SOLVED: How to Move Update Services WSUS Content Files

If you need to move your WSUS content files to a new hard drive on the same server do the following:

1. On the new drive create a folder named WSUS and a subfolder named WSUSContent
2. Launch a CMD window as an Administrator
3. CD to C:\Program Files\Update Services\Tools\
4. Type wsusutil.exe movecontent %content path% %logfile%
   Example: wsusutil.exe movecontent f:\WSUS\WSUSContent f:\WSUS\wsus.log
   In my case it took about 30 mins to move 60+GB.
   Note that MOVECONTENT does not move it only copies, so you need to delete the originals if you want the space back (see steps 5-9 below!)
5. Rename your old content source to something like C:\WSUS\OLD-WsusContent
6. Start (or restart) the UPDATE SERVICES service
7. Start the UPDATE SERVICS
8. Make sure your WSUS Management Console and play around to confirm it is functional
9. OPTIONAL: Delete the original content folder that you renamed in step 5

Thanks to

http://technet.microsoft.com/en-us/library/dd939905(v=ws.10).aspx

and

http://social.technet.microsoft.com/Forums/en-US/ffa6802f-64b2-49c2-adc0-b42dbaa06b81/move-wsus-content-database-to-a-new-drive