I have moved my characters from Trask Ulgo to The Progenitor (Eurpean RP-PVE, English). I was very positively surprised how fast the move of ALL my characters was done — the whole process was finished by the Bioware team while I was still fiddling around with the List of Doom.
Big. Fat. Kudos!
Now, all we can do is wait and see how things pan out. I am currently optimistic that things will work out well. Consolidating servers at this point of time seems to be a good thing, and face it, the naysayers (you know the ones… SWTOR IS DEEEAAAD! DOOOM! FREEE TO PLAAAY! *insert wailing and gnashing of teeth here*) would have piped up with their prophesies of doom, no matter what. Let them choke on them, is what I say.
I also had a look at other SWTOR blogs to see what their authors had to say about the character transfers: