Yes,

That is true. Well maybe 45 minutes depending on what you use to cut the reinforced rubber ring of the OEM mount. You can't go wrong with the job actually, after finishing you'll see it was pretty easy. You'd better pop the hood to 90 degrees to make the mount rod easier to access. Like I've said you have to cut till you're only left with the outer most cylindirical metal ring. I had to grate it down with a screw driver and it just popped out by hand after that. If I'm not wrong the tools you need are 13 (firewall nut) to 15 (?)(mount nut) mm wrenches/sockets, torque wrench, WD40, hack-saw/steak knife. First loosen both of the nuts (the one for firewall and mount) and then remove them, mine was so tight that I had to put the firewall nut back on to be able to loosen the mount nut.

One last advise. If you can find a C-Clamp with the proper size (somtimes autozone rents tools on an hourly basis) I recommend you buy the OEM mount ($12) from volvoparts.com or similar, and put that one in. You may feel slight vibration with the IPD mount, however that is not much. I live in State College, PA. I can offer some help if you live nearby.
Good luck,
Ihsan