You could probably do that - but a quicker alternative would be to make a copy of image2.gif and rename it as image1.gif so no links were broken, but also it would now view image2.gif. Then just upload it to the correct folder.
If it does then Josh's option is better - at times I like to try restrict the number of SQL commands - as one slip up could make a nasty mess of the tables - hence the reason why you should always back them up
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