I just did mine today. It took me a little over an hour and it wasn't hard at all. A bit tedious at times, but nothing crazy. I almost punched myself in the eye, but lucky I wasn't using too much force so I was able to stop myself just before impact.
I didn't use a single drop of glue, I lined up the leather boot with the ring and held it in place with fat paperclips. I then cut slits where the 4-tabs are and slid the tabs into the slits.
Then I just stuck it back into place and everything is holding fine.
There is definitely an improvement over the stock shift knob. I wouldn't say the difference is night and day, but it's definitely noticeable and improved.
Many thanks to everyone in this thread who contributed to the write-ups, it really made my life easier and saved me a lot of time!