Office 365 E1-4 Subscription Fail - Now Fixed by Microsoft!

Scenario

• You created an account under the Enterprise plans (E1, E2, E3, or E4)
• You don't have more than 300 users and would like to change to the Office 365 small or midsize business plans (Small Business, Small Business Premium, Midsize Business)

Issue

• As of 10/4/2014 Microsoft now supports this.  Thank you Microsoft! :) 
• I have redacted the complaint below.

• Microsoft is scalping its clients by not providing an option to downgrade these accounts
• Their recommendation is to delete your old account and then create a new account, then migrate all your emails, sites, and apps to the new account!
• This is a ridiculous requirement that will result in tens of hours of configuration and system downtime
• This may also result in data loss if not done correctly

Resolution

• Downgrading the account must be done by adding the new subscription, reassigning licenses, and then cancelling the old subscription.
• Note: Just ignore the your data will be deleted warnings.  As long as a user has valid licenses assigned, they will not lose their data.

• If creating a new Office 365 account NEVER create an E1 plan unless you are immediately surpassing the 300 user limit
• Please open tickets with MS to support automated conversion from your Enterprise plan to Small Business plan
• Also petition MS to provide a billing discount solution to the enterprise plans to make up for their incompetence