I did mine in a few hours, ran into some problems with the lower rear caliper pins, they are very soft metal and will strip easily. I recommend hitting those pins with some penetrating fluid - let it sit and then hopefully they will break lose easily.
I did bleed the brakes just because I wanted to, I did not have to but I did it anyway. If you need help go to the factory service manual section and browse through the collection. I used that section of the forum to get the detaile procedure. I wish I could recall which specific PDF to look at, but I know it is there.
Try this link, it is pretty fundamental and should get you going.
bbk-wheel-spacer-information-t520363.html
By the way you will need a clamp or a piston compression tool to force the piston into the caliper block. What ever you do, do not pump the brakes when you have the caliper off the rotor.
For the life of me I can not find the link to factory service manual. Anyway look it up on youtube, it is there as well.
Found the link to the FSM
http://www.nicoclub.com/FSM/M/2006_M45-M35/
Good luck, take your time and be safe