You'll need a large mallet, some large centre punches (or a chisel), and a bit of elbow grease. A brass punch would be nice as well, brass is softer than steel.
Basically, just whack the old one out (isn't too hard, its only small).
Once you've got the old one out, clean the case up, and install the new one.
Use the races from the old bearing between the new bearing and your hammer, to stop them being damaged. Once its down, hammer it home with the brass punch. Be careful not to damage the bearing or race with your punch. Also grease them up, use some good quality grease for this.
The job shouldn't take more than an hour per bearing. I couldn't get the new dustcap back on the hub, so the old dustcap was used instead.
Make sure that you keep things nice and clean, don't let any bits of metal stay in there.
Bearing should be about £25, you can get them from Eurocarparts off the shelf. While you're doing this job, its worth considering doing the brake pads at the same time as you're removing the calipers anyway.
I think that the attractive, jewel like nut with a locking assembly needs to be torqued to a fairly exact specification.
And I'll admit to being unsure. When I repacked my bearings, I ran it down to snug then backed it off a 1/4 turn. It seems to be working and not making noise (now for a couple thousand miles) but I think I'm mainly lucky....[^]