Yes I installed the factory fifth wheel prep kit in my '11. Yes you have to lift the bed 2-3" to install the massive bracket under the floor. The instructions are very clear and it is pretty straight forward. The electrical connections in the bed are not included in the kit but are available.

I wanted the strength and Ford backing when I was researching which hitch to install. The factory piece is made by Cequent. The also make Hidden Hitch, Reese, etc. If you do not want to lift the bed, Reese Elite series is almost the same. It would look like the factory bracket and use the same hitches. All the accessories, hitches, goose ***** , etc. fit both factory and Reese Elite series. For me to order the factory bracket was actually cheaper than buying the Reese setup...