Well Rick, you can try that. However, I am not sure if that is going to work or not. It may/may not break other settings.
Regarding, creating the CF service, you may like to have a look at http://support.microsoft.com/kb/251192. for creating windows services by Microsoft.
Alternatively, You can create a 3rd instance. Before migrating the datasources, ou can verify the service startup/shutdown.
Regards,
Anit Kumar