Be a tad more careful about simplifying it this way. It's slightly better to multiply it out first, then divide each term by [imath]n^3[/imath]. Any time you take the limits inside of a multiplication you could run into trouble. But for this case, yes, it does work.
Good job!
-Dan
Addendum: The example I'm thinking of you to be careful of isn't a multiplication, where you are pretty safe, but an exponential:
[imath]\displaystyle \lim_{n \to \infty} \left ( 1 + \dfrac{x}{n} \right ) ^n[/imath]
If you aren't careful, you might drop the x/n term (because it is small compared to 1 in the limit) and say that the limit is 1. The limit is actually [imath]e^x[/imath].