Originally Posted by Vick!

I will surely take time. Why? Because the ISPs that already have cached your old IP are not going to update (their cache) before 24-48 hrs.

And to answer if it will effect how domain works .. it will effect, because many ISPs will be sending request to older IP/Server, and if you have removed the content, it will return blank page .. or some error page of domain is removed from the control panel.

So, its better to keep site on older server/IP for at least 2-3 days after moving to new one.