When I installed my Megan Racing coilovers a few weeks ago, I took longer than 2.5hr. For the most part, I did the job by myself and didn't have all the tools laid out so I was constantly having to find stuff. If i am not mistaken, the Ridetechs come with new top mounts so that you can actually bolt them to the car. My Megan coil overs didn't and therefore required me to take apart the front and rear struts which increased the install time for me. All in all, I had them in the car in about 3.5-4 hours, but then spent some time making sure I had the right spring preload on all four corners and played with the ride height.
As for tools, you can get by with your basic hand tools. I used a couple 1/2 drive ratchets, various sizes of sockets, various sizes of box wrenches, various sizes of ratcheting box wrenches, a small vice grip I used to remove the nut from the end link. I am not sure about the ridetechs, but I needed a hex key to hold the center of the strut while I tightened the nut that holds the upper mount to the actual strut.
The only special thing I used for the install, was a measuring caliper to make sure I had the height and preloads the same on each corner. When I did my install, I used both the Pfadt instructions you posted and this Camaro5 members DIY
http://www.camaro5.com/forums/showthread.php?t=221950
Feel free to ask me any other questions while its still fresh in my mind
