I have been researching the migration process for security from one LS9 box to another.

As far as I have found, the best way would be to do an lsdump on the profile to get all of the security classes over. Then either use lsdump one at a time on the roles or recreate the roles by hand.

Does anyone have any experience doing this or is there a better way?

Any ideas or help would be greatly appreciated.

That's the way I've always done it. The whole profile.