Ive done it twice once on my stolen 08 and again on my 09 Repsol.
Its very simple:
1) Remove the Lower Cowl
-There are 4 allen head bolts holding the lower on 2 on each side, remove them.
-Once those are out the easiest way to remove the lower is to push the little piece at the very front of the bike (the V shaped wedge between the mid cowls), backwards. It will "snap" out and then you can remove it from the bike. ***Sometimes it is easier to do each side individually by pulling the bottom of the mid cowl forward while pushing the lower back.***
2) Remove the single silver allen head bolt at the rearmost part of the mid cowl. This is as much as you need to remove to get at the engine mount bolts.
3) Remove the engine mount bolt and thread the supplied R&G centering spike in the engine mount hole. Thread it in enough so that it is not touching the mid cowl when the cowl is just hanging there. Then back it out until it is just touching the inside of the cowl while its at rest.
4) With the palm of your hand, GENTLY hit the cowl over where the spike is until you can see a "pronounced" bump where the spike is.
5) Remove the spike.
6) With the fairing still attached to the bike use the spike to make a small divot on the the outside of the cowl right where you made the small bump, this will aid in centering the drill bit for your pilot hole.
7) With a small drill bit (1/8" to 3/16" is fine) drill a pilot hole. Screw the spike back in and verify that the point of the spike is centered in the pilot hole then remove the spike.
8) Cover the area to be drilled with some painters tape, this helps with the hole cutter, a 3" x 3" square is more than enough.
9) While pulling the mid cowl away from the bike (about 5-6 inches), slowly drill the hole with a one and a quarter inch hole saw. Go slow to keep from melting the plastic your cutting.
10) Once the hole is cut, clean the edges of the hole with a small file to get rid of any burrs.
11) Install the slider as per the instructions be careful to use the right spacers and to make sure the spacer on the right side of the engine (between the engine and the frame) is in place.
12) Reinstall Lower cowl in the reverse order of removing it.
Thats pretty much it, the right side cowl has some fiberglass heat shielding that you can just cut through with the hole saw, its not gonna mess anything up. when its done it should look like this