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Booked standard award but now saver is available...can I cancel and rebook?

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Apologize in advance if a similar question is already answered elsewhere in the forum...I did not find anything by searching.

About 3 months ago I booked a one-way transpac flight and at that time the only award ticket available was a Standard Award (65k miles). The flight is now a few days away and out of curiosity I did a dummy booking and saw that Saver Award (32.5k miles) is available for the same itinerary. As a 1K I believe I can cancel the current reservation with no penalty, and then just rebook using a Saver Award. Am I missing anything? Am I breaking any rules by canceling and rebooking?

Does this happen frequently? When booking Standard Awards in the past I had never before thought to check closer to departure date to see if Saver inventory was available...

Thanks for any advice!

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