I would suggest that you just go ahead and put in your Jcats request and transfer.
You have been around long enough to remember when we went from two 3.5% raises to a single raise, they told us back then that 7% was better than two 3.5% raises as that was what your top reviews would get you, but people like me pointed out that they were taking away the compounding effect, their reply was that this will help you top out even sooner. Down the road a few years that 7% max would turn out to be 5% then 3% so much for topping out faster. The company knew exactly what they were doing and did it gradual enough that most did not notice.
A few years ago they gave us mid range guys a nice pay raise, but turned around and took it back the following year when they did away with second, third, and split shift pay.
Van; The only way you should feel comfortable about getting a big raise like this manager is talking about is to get it in writing, on a FedEx letter head paper signed by a senior manager. You and I both know the odds of that happening are right up there with a "big" raise on the horizon!