It's very easy to install... the majority of the job is just removing everything. Bill Blade covers it very well
right here. (Keep in mind he's doing a CA bike that has some extra smog foo-foo others don't have like the roll-over valve and charcoal cannister.)
It has no effect on jetting, and other than the very small weight savings, no effect on performance. (You'd save this much weight just from taking a healthy dump.) It does clear up space on top of the motor which makes valve cover area work (plug changes, valve adjustments) easier.