Did that. On first run it took a long time and Armory produced a 92GB log file before I shut it down containing these messages:
---::BlockchainScanner.cpp:433ch) Failed to create BlockDataMap for file/home/pete/.bitcoin/blocks/blk00601.dat
::BlockchainScanner.cpp:433ch) Failed to create BlockDataMap for file/home/pete/.bitcoin/blocks/blk00601.dat
::BlockchainScanner.cpp:433ch) Failed to create BlockDataMap for file/home/pete/.bitcoin/blocks/blk00601.dat
-WARN - 1493065874: (BlockDataMap.cpp:434) Trying again...
-WARN - 1493065876: (BlockDataMap.cpp:433) Failed to create BlockDataMap for file: /home/pete/.bitcoin/blocks/blk00601.dat
-WARN - 1493065876: (BlockDataMap.cpp:434) Trying again...
-WARN - 1493065876: (BlockDataMap.cpp:433) Failed to create BlockDataMap for file: /home/pete/.bitcoin/blocks/blk00601.dat
Then I deleted blocks back to blk00600.dat, did a "bitcoind -reindex" and started Armory again after blockchain was up to date.
This time, everything worked as expected. Had to close Armory again because it comsumed again all memory while showing no progress for hours, but now I can start it without a problem.