Did a little reading, looks like all we need for install is a extension tightening tool for $35 from Brownells, and a tool to hold the barrel nut. In my case, the crows foot for the Jag Composites nut that I use, fits securely in the vise.
Please correct me if I'm wrong, but looks like our strait pulls have another advantage. I don't think we need the index pin at all, as it's there to keep the gasport and front sight at 12 o'clock.
So, pull the pin with visegrips, remove the extension (probably requires a barrel vise?), and torque the new one back on, verify headspace with go and nogo gauges, and you're good to go right?
*One problem with the video I watched where they use the barrel nut as the 'counter torque holder' is that the Jag nut only takes 30 ft/lbs, so I guess I'll have to add a barrel vise to the list, which leaves us with a few tools in addition to a vise, tool to tighten nut, torque wrench or strap wrench, and tool to hold the upper, which I think most of us already have.
-barrel vise
-extension tool ($35 from brownells)
-go and nogo gauges
Install:
Start at the lowest torque (120), Check headspace, and then tighen more if necessary up to max (155). Red loctite. Forget about index pin (hooray!).
Edit: looks like the pin will make clocking the extension much easier, but it may be out of position with a new extension. So, I think you can make an alignment mark for the proper position after the extension is torqued in place. All bets are off if the headspace isn't correct...time for a gunsmith to machine it all to fit. Or better yet, just ream it with the chamber and throat you want if the chamber is too small. I've heard of guys doing this operation themselves also, but I wouldn't trust myself on the precision front with no experience...
*most online sources call for 150 ft lbsof torque...