Should work
It doesn't really matter if you create any categories / forums. You have the option to delete them while importing, but you can also keep them... There will be one standard category and one standard forum created while installing the vB.
You must create the admin account when installing (it's part of the vB install script). But, if you choose the option to delete the old members that account will be killed. After the import, the old administrators will be administrators in the new forum, too. Of course you have the option to keep the new admin account, too.
Another thing, you should first install the vB and then close the UB2k. This is to reduce the downtime of your forum as the installation takes some time and it is not 100% that everything works fine the first try