This is something I had wanted for a very long time. I ordered it for my Epiphone SG, but in the end I decided to install it on my new Harley Benton SC-450Plus, as I thought a vintage-style vibrato could do better on a guitar with coil split options. I think it is a fantastic piece of engineering, as elegant as it is simple.
I am not particularly good at tinkering with guitars beyond the usual truss rod / intonation adjustments. It literally took me 10 minutes to install the whole thing, so I would say it is really easy. It is solid, looks extremely good, and you could go back to stock whenever you want.
I ended up installing rollers, though many will disagree with me. I just find that there is no loss of sustain whatsoever and that the tuning stability (which is not bad already) comes out improved by a good bit. Now, rollers cost me about 4 quid in total at my nearest guitar shop, so I guess it's not a modification that is going to break the bank.
It works very well. It is extremely smooth and has a very nice action. Clearly, it is not intended to be a Floyd Rose and it isn't very good divebomb material, but it was not designed with this in mind either. In fact, it is a vintage-style vibrato and so it should be used.
However... it goes down a good two / two and a half steps, and up about one, so you can abuse it if you really, really want to.
In conclusion, absolute bargain. If you have a LP-style guitar, you kind of need it!