Something like that. You'll need to have the power co. come out and pull your meter for you as well, and likely you'll need a permit and inspection before they'll hook it back up again.
Now the question is, "who makes the *best* new residential breaker panel" and that's a question I can't answer, although (again anecdotally) people seem to like Square-D QO. I haven't done much research into this because my house came with a 200A Siemens/ITE panel so I haven't had a need to worry about replacing it.
You'll likely need some AFCIs as well for the bedroom circuits
nate