Go for it. I can't say definitively whether it will be good for you, as I don't know you
What I CAN say is that I took a similar path after going through field operations, local management, marketing and then country(s) manager with Schlumberger - Some time ago I decided I preferred to get back to my technical roots for many reasons - job security, satisfaction and work-life balance being the main ones. Did a one-year full time masters targeting Reservoir Engineering topics and its all worked out beautifully for me.
Great job, more pay, better work-life balance, interesting work
About the only advice I can offer is do it sooner rather than later. Companies generally prefer to hire either fresh-outs or experienced staff. The way to increase your chances of getting hired as a mid (albeit early) career hire at a salary above graduate rates is to get into the market during a busy period when companies are happy to hire whomever comes along. In a softer market you may struggle. Right now its pretty hot (you wouldn't believe how much I'm being offered on a semi-weekly basis by headhunters), but history says that it will probably only last for another 2-4 years.... starting studies in 2012, graduating 2013..... you need to be putting out the feelers to employers before you graduate. When you do, MAKE SURE you do your homework first so that for each company you interview with you are familiar with where their main assets are, what their current main focus is etc - ask some relevant questions to demonstrate this. Nothing turns of companies more than a blank faced candidate who knows nothing about their business.
Good luck
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