Update: Install went well. I removed the spare and put my rear wheels up on blocks so I could comfortably sit under the bed and work. Some highlights:
1- the key to access the mechanism to lower the tire showed some rust. I suggest guys remove them and spray them down with some rust inhibitor.
2 - Once the 12 factory 13mm bolts were loosen, I hit the factory cover for 10 mins with a dead hammer and it was not budging. I then used the smallest flat-head screw driver I had and lightly tapped the edge between the cover and the diff and was able to pry the cover off enough and the fluid started to flow.
3 - I then removed the cover and there was a lot of factory sealant on the surface. Using a cloth, I used paint removal to lightly wet the sealant and the sealant immediately got soft. I then used a razor blade to gently scrapped off the old sealant. I did this for an hour making sure the surfaced was clean. I also made sure no debris got inside the diff gears which is now exposed.
4 - Per everyone's recommendation, I purchased some silicone gasket maker and also some thread sealant.
5 - Mag - Hytec cover fit perfectly and all 12 bolts lined up. I torqued all the bolts accordingly (using a cross pattern).
6 - I love filling the diff cover using the dipstick hole with a funnel. Much easier than using a damn hand-pump.
7 - I had an old bicycle tube and I cut up the rubber to secure the abs wire sensor to the brake line.
8 - With the spare off I took the opportunity to check the tire pressure (was 35psi and I added air up to 46psi ) and give it a good wash.
All in all Mag-hytec is a great product. The Mag-hytec cover is so much more functional and better looking than the dinky factory diff cover. I should have done this a long time ago.