Yeah, straight swap. Very easy job, once you've got to it about 1 hour incl removing fairings, draining, fitting and re-filling. I believe it's supposed to make a better seal to stop air being drawn into the system and fluid leaking out. Mine had been leaking as the Foam on the inside of the fairing was soaked with fluid.
Also, my Banjo bolt was rotten to the point that i couldn't actually bleed the system. So new stainless banjo as well.
To completely clean the fluid you'll need to remove the resevoir and rinse with some clean fluid. If you're lazy like me you'll just run clean fluid through a couple of times.
Next job for me, new clutch plates.