Want to talk me out of this...

I'm currently using 2 instances of Server 2008 R2 Hyper-V to host 4 VMs on one server and their replicas on another, identical server.  I am also backing up the VMs with StorageCraft Shadow Protect as well as copying important files, databases and images via a daily RoboCopy script.  I feel like this is over-protection and want to discontinue the replication of the VMs and use that second server to host a few additional VMs; a DC, SQL Server and a Media Server.  How do you all feel about replication in Hyper-V?  I'm sorry to say I have it set up but never tested it.