I don't see why this would be a problem at all. If she were to loose her iphone and buy another this is what she would have to do but if i am wrong you can always jailbreak the new phone (assuming you get 1.1.2) and have her use it with AT&T.
Don't worry, u can just jailbreak the new iphone (if it comes with 1.1.2 FW) and use her SIM card, u dont even need to activate with iTunes it will work, just remember DO NOT UPDATE TO 1.1.3 Until the jailbreak for 1.1.3 comes out