Minimal cutting and welding. Like the article says, I'd pull a few extra parts from the junkyard just in case anything goes wrong, but no reason not to try the project.
Welding itself is not too difficult. Like anything, it just takes repetition and practice to get good. I'd recommend taking a class at a community college or find a buddy who knows how to do it to teach you.
I'd love to get into welding. I'd probably be a little nervous installing something I had welded on my car though. At least in the beginning. But like you said, no reason not to try.