"On two occasions I have been asked [by members of Parliament!], 'Pray, Mr. Babbage, if you put into the machine wrong figures, will the right answers come out?' I am not able rightly to apprehend the kind of confusion of ideas that could provoke such a question." -- Charles Babbage
How difficult is it? Well i'd imagine that it depends on your level of experience. I've upgraded the ram and HDD on my aluminium imac for the same reason, because apple rips off for upgrades.
You just have to take it slow, and go very carefully. See http://www.ifixit.com/Guide/Repair/iMac-Intel-20-Inch-EMC-2133-and-2210-Hard-Drive-Replacement/1008/1 for a guide.
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