BN, during the early phase of installation, the option to customize your Office installation is given. Here is where you can choose to install only the components included with the pro version.
You may run into difficulties when it comes to updating with service releases - as the disk ID's and file locations are different.
I would:
- Make a System Restore Point
- Uninstall the Student Version
- Install your new Pro CD
- Goto office.microsoft.com and update the software after you activate
- Drink something refreshing - may want to move this item to position 1

cheers
vap
ps - when you install the kiddies Office you may need an activation override from Micro$oft - usually a quick 1-800 phone call will do it