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I have only done it once, it took about 2 hours per side with a ford mechanic friend of mine who had done it dozens of times. We had to use a cutting torch to heat up the area around the pin in order to finally get the pin out, the little propane torch just didn't cut it. Putting the new pin in the freezer overnight and taking it out right before you are going to install it helps a lot too.
There are two styles of bushings, nylon or metal. Either will work. With the nylon installation is simple. The metal ones, once they are pressed in they will have to be honed by a machine shop to fit the pins. The nylon ones will give acceptable service, the metal ones, as long as they are greased, will last just about forever.
Its more a matter of personal preference. I prefer the metal bushings.
The hardest part of the installation is, as eviiltim72 said, getting the old pins out. If you are lucky, and I mean really, really lucky, you'll be able to drive the old pins out. Don't count on it. You are more than likely going to have to heat the axle with an acetylene torch to get the pins out.
I agrre with the other guys, do your self a favor , use the brass bushings. Nylon ones dont last long. Another option is to remove the front axle halves with the spindles attached. Take to a spring or machine shop. They can press the pins out &ream the new brass bushings.
I need to replace the king pin on my 74 on the drivers side. The pass side seems to be in better shape but I figured I should go ahead and do both sides at the same time. Its been awhile since I have done this and as I recall it wasn't a fun job.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.