I did this last weekend on my 89 300se, it is'nt to bad. The hardest thing like said above is getting the bolt back in on the drivers side, that took longer than the actual job. If you have someone around with small hands it helps alot. To tighten the nuts on the ball joints you may have to rock the car with it on the ground to keep them from spinning. Besides that just make sure that the car is supported well because you are doing alot of pounding and pulling.
You may want to check your steering damper while you are under there, mine had worn out and I believe the worn ball joints on the control arms beat it up.
It took me about 3 hours total, and an hour was trying to get that darn bolt back in!!!!