how to bring live magento site to localhost without effecting live site.

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Hi friends .
i want a live site to be on local host and without effecting any functionality of live magento site. i have tried many way of doing that but have not get any result from it.
steps i tried are
1. taken database from magento live site by entering into cpanel(by ftp access) > phpmyadmin > exported all the files to my local machine .
2.taken all neccessary files from cpanel > file manager > all files (for example p_html, .htpassword, .trash, access log, etc file and many more) and put it on my local machine .
3. replaced the path of live site with localhost:1234 in the all sql files where applicable.
but still not working .
Any help will be appreciated....
Hello yashduggal, Importing the files and databases to your local machine is very much the right thing to do. After you have it all set up, be sure to check the local Magento configuration files. These are found at "/app/etc/local.xml". Ensure the paths are correct for your local machine, the credentials for logging into the database are correct, etc. Also, be sure to check the error logs in the local machine to see what may be the issue with the migration. Once the wrinkles are ironed out, it should run smoothly. Best Regards, Scott M