@avnewb
I currently run a modified Hempy bucket system, and in my opinion drain to waste is as easy and fool-proof as it gets when it comes to indoor growing. By modified I mean that I still use the coco/perlite mix, but I add about 20-25% organic matter which can include soil, promix, worm castings, mulch etc.
I started doing this in order to add some organic matter so as to provide a better environment for the bennies which I innoculate with, and this also helps retain moisture/nutrients (which = slightly fewer feedings). I also find that it still maintains the benefits of it being easier to flush than straight soil as well as being quicker to respond to changes in nutrient solutions (than straight soil).
So if you're planning on switching to a similar system, I'd say sure, go ahead and transplant your 1 gal soil pots into 5 gal Hempy buckets, you should be fine. Btw, not sure if you are actually using the Hempy system, or just buckets of coco/perlite mix?