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If you look at Halltech's site and also some review.s from LG you will pick up 8 to 12 Hp.
Yes, it is a easy mod. For one that works on their machine on a regular basis it will take 5 to 15 min. If you have not been under the hood much and do a carfull job it will be from 30min to 1 Hr. Bottom line it is easy to do and by all stories available will provide a little increase in HP.