My Bike: 2004 GS500F

The sight glass in the front brake master cylinder broke.  I have acquired a new front master cylinder assembly:

http://partsfinder.onlinemicrofiche.com/camrodmotorsports/Suzuki_OEM/SuzukiMC.asp?Type=18&A=288&B=37&Action=O

After some extensive research on the boards, I was unable to find any posts related to a complete replacement of the front master cylinder.  However, I did find some information on related projects.  Piecing the various posts together, I have come up with the following rough "plan of attack" for the job.  If anyone has any feedback, it would be greatly appreciated.

1. Remove any remaining fluid in the reservoir
2. Remove the brake line from the master cylinder
3. Remove the master cylinder assembly and replace with the new one (is this difficult?)
4. Connect the brake line to the master cylinder
5. Completely flush the lines (which, as I understand it, is just a much longer version of bleeding the lines...see Kerry's tutorial) http://www.bbburma.net/HowTo/BrakeFluid_Replace/

I know I am vastly oversimplifying things here, but does this seem like the general approach I should take?  Any advice/experience/knowledge/pitfalls would be appreciated.

Thanks!!

Prob`best option to replace master cylinder,use some rag to cover paintwork,brake fluid aint to freindly to paint.Buy 2 new brass sealing washers for the banjo.Shouldn`t take more than 45min.

You DON'T need new brass washers.  Brass is malleable.  They re-conform.  

-Wrap the banjo bolts in Teflon tape before you re-install.  Same with the bleed screws.  Makes bleeding easier - better seal.  No, the fluid won't eat it. 
-Replace the two top screws on the cap with non-Japanese style beveled-heads.  
-Use DOT 3, 4, or 5.1 brake fluid.  NOT DOT 5  (5 is silicone based and doesn't mix with 3 & 4.  And screws with seals/lines.  5.1 is ester based, like the others.)  
  (Boiling points:  Dot 3 - 205*, DOT4 - 230*, DOT 5.1 - 260*)

-Don't use old fluid.  It absorbs water vapor out of the air, and breaks down from UV exposure.  
-Having someone else fill the reservoir helps immensely.  
-When in doubt, bleed it again.  

-Don't listen when people tell you to tie the lever down and leave it overnight.  It just makes the little micro-bubbles "gasify" into solution with the fluid, under the constant pressure (like CO2 in Coka-Cola).  
-When in doubt, bleed it again.  

PTFE tape on brake fittings??....

If any little pieces brake off inside as you screw things home it will go with the flow and can clog up ports and passageways, beside which you shouldnt need it. Its the tapered thread in the male and female fittings that forms the actual seal.

If you must use something stick to the liquid stuff........... like Loctite 545

http://www.henkelna.com/cps/rde/xchg/SID-0AC83309-2775C7F0/henkel_us/hs.xsl/full-product-list-7932.htm?iname=Loctite+545+Thread+Sealant%2C+Hydraulic+%2F+Pneumatic+Fittings&countryCode=us&BU=industrial&parentredDotUID=productfinder&redDotUID=0000000HXL

Thanks for the feedback, everyone.  Does anyone have an opinion on whether installing the new assembly will be difficult?