I've decided that even though my Hoyt is at least an inch too long on the draw, I'd rather spend the money for new cams, strings and cables to fit it to me rather than buying a new set-up.
I've had a couple of folks challenge me on that but a new package would run me over $600. With that said, can anyone tell me what it'll run me to have this done and if it's true that only Hoyt dealers can do it for me?

Do I HAVE to change my string and cables? New peep? Anything else?
Once I have all this done, will I need to completely revamp all of my sights or are they going to be still in the general range (obviously I'll shoot at the range but I'm looking for expectations)?
It's an MT GR 200 Sport. The draw is 29"-31.5" currently set at 29.

I'm a fairly new bowhunter and expect to only hunt 20% of the time with my compound thuse my reluctancy to spend a ton here. The Hoyt's VERY smooth compared to what I hunted with for the past 15 years and it'll probably be all the bow I'll want to have.

I'm wide open for ideas and comments.

You might or might not have to change your string and cables. There's no way for anyone to know without knowing the exact model and year of your bow, what cam and stuff it's got now and what draw length you need.

You can go to Hoyt's website and look up the specs for your bow, see what it has now and find out what cam, string and cables you'll wind up with at your new draw length. Look under the 'Technical' menu and find 'Tuning Charts.' http://www.hoyt.com

I don't have a clue what it'd cost to do all that, but I'd guess it'll put a big dent in a $200 bill. Maybe more. But, like you said, it's not as painful as $600. I just hope your bow is a recent enough model they'll have the replacement cams for it.

New cams will cost about $75.00 and I'd probably guess that you'l l need a string and cables. Hoyt cams and draw length changes some times require different strings. At least my Trykon did.
A hoyt dealer is the only one that can get the cams for you.
Like Arthur P said , check the Hoyt web site. It will give you the string/cable/camss for the correct draw length.

Buy the necessary equipment and do it yourself. The cost won't be much diff and you'll be the better for it.

Will I need to order the parts from a Hoyt dealer as well or can I order direct?

I looked on the Hoyt site and I can't tell which year my bow is to pull down the technical/tune info. Any ideas how to tell?

Call hoyt's technical service number and give them your serial number on your bow and they should be able to tell you what year it is.

I had the local pro shop change the draw length on my Hoyt Pro Tec from 27" to 29" when I first got it. No changes to the string or cables. Was still even very close to sighted in.