Depends on a lot of things,, the number of pages, and if you are using different page types and/or DataObjects... So I don't think there actually is a default 'best' solution, especially since your data model setup is so different...
If the number of pages isn't too large, I would probably play it safe and take some time generating them by hand and copying the contents.
If you have a hughe number of pages, and you want to automate things, and your (original) page setup was fairly simple (basically just MenuTitle, Title, Content) you could still try copying the database (or maybe just SiteTree, SiteTree_Live and File), your assets folder and then do a dev/build - that would maybe give you back the default site structure plus just maybe the images in tinyMCE (not certain about the latter though). You'd still lose any custom pagetype settings though... you could add the two tables for pagetypes, dataobjects that have more or less the same dbfields,
As to your question: yes you can leave out the _Live tables, but then you'd have to publish all pages afterwards.
And if it is just to different, nothing left to do but some major database scripting...
There were scripts around for updating to v3, but they would probably only work on sites that kept their general structure sort of...
But maybe others have some great ideas?