I installed something similar, but without the reverse lock out. Its one of the 2 mods i love the most in my car. You cannot use the OEM selector rod, you need a DSSR, or this won't work. and yes you have to drop the shaft and exhaust to fit it. i can only speak for myself, but its a completely different world to the oem shifter and shift behaviour. I am sure Ian will say similar.
Hey man, your an Aussie, you have PM incoming.