FYI: I've been testing this on my site and it seems to be working with no issues! The key is identifying the account that the others need to be merged into. Then, transfer any profile values (manually) from the 'old' account into the new one, and when that's done, run the 'Merge User' function, which actually does the merge and blasts (deletes) the 'old' one.
What a time saver! Thanks Rick!