With the Eibach kit, you will need shorter shocks in the rear as well (I can point you in the correct direction for those, $130 for 2 new rear shocks). Cut the rear bumpstops and personally Id do new shocks up front as long as the strut assembly has to come apart (but thats me). Thats it for a mild drop, it will align just fine as well.
Eibach says you can run stock shocks in the rear, believe me you CAN but it WILL ride like crap.
As for install, no idea. Probably ~2 hours of labor minimum, ask if there are any members in your area that would be willing to help.
It will be pretty close to a stock height SS, maybe .5-1" lower. I found some pics of my 02 from 08 when I had this Eibach kit on it. Tires are stock 16s with 245/70R16s.