Yes , very easy all bolt on.  you will spend about a day of light, well I did because I like things rebuilt and clean, it's a long process to remove all and put back together.

Yes it's worth it, espeacially if you have added weight to your rig like bigger tires


no you do not need to run the 1" master


 I have a 82 4x4 with 35's / 36's, winch , dual cases and a V6 engine, big bumpers yata yata, the V6 upgrade was Awesome ! I never did the 1" master and had stock rear brakes

good luck
any other questions  search on pirate4x4  board

good luck