permissions question

Hi all

Just a quick question, if I write a program thats deliberately vulnerable to buffer overflows, set the suid bit (so it runs with root permissions) and tar -p it up to preserve permissions, when I transfer it to another computer (running as an unprivileged user) and exploit it, will that give me root?

I think it will but it seems all too easy. I have telnet access to the box im trying to own (this is for a uni project btw, nothing illegal :ninja:). Its gonna be something real simple like once the suid bit is set u need to be root to run it isnt it? Come on guys point out the obvious flaw its starting to annoy me.

Thanks in advance, jon