Sure, you can do that. The only thing that may not work is the Archive and Install. If you were to back up the data you needed on another drive though, the wipe the internal drive clean and install, you should have no problems.
I am looking at buying a used iMac PowerPC G5 1.8GHz with 1.25GB RAM and OS 10.5 preloaded, but the owner only has the original system discs which are OS 10.4. Is it possible to wipe the hard drive and revert to the 10.4 version? I don't want to buy the Leopard discs to have in case the computer crashes and the system has to be restored.

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