Installation is a breeze if you have aftermarket fixed rear sets.  Just prop the bike up on jack stands using a rear stand, then using pages 15-2 and 15-14 through 15-17 of the repair manual, remove the rear shock assembly through the bottom of the swing arm.  Begin by removing the 17mm nut and 14mm bolt on the rear of the link as well as the 8mm hex bolt on the front.  Next remove the 14mm upper and lower shock mounting bolts.  The shock will come out the bottom of the swing arm.  I did the work when having the rear tire changed out on my bike to make the job easier, but it's not necessary to remove the rear tire.  Modulating the swing arm up or down a 1/2" or so will help in removing the bolts.

If you don't have fixed aftermarket rear sets you'll have to get creative with straps or a large jack under the oil pan.  Keep in mind the rear can't have any weight on it when you're removing the rear shock.

Installation is simply the reverse of removal.  Just be sure to follow the proper torque values of 33 ft/lbs (44 N/m) for all the bolts and nuts.  Of course if you remove the rear wheel, then be sure to torque the axle nut to 83 ft/lbs (113 N/m).

Here are a couple more pictures showing the difference between the 2004  - 2005 shock and link vs. the 2006 - 2007 shock and link.  The 06' link is 1/4" longer.

The performance difference was immediately noticeable.  The stock 06 shock comes at 4 out of 10 on the shock preload, 2 and 1/4 turns out from full hard on rebound, and 15 clicks out from full hard on compression.  I weigh around 180 lbs with gear, so I changed mine to 4 out of 10 on the preload, 1.5 turns out from full hard on rebound, and 8 clicks out from full hard on compression.  I tried 7 clicks out on compression, but it was too jarring on the road.  8 clicks seemed just right for me for now.