Installing the center stand is a hassle in that the pipes need to be loosened at the header bolt to provide clearance for the stop bolt that mounts to the frame. Aside from that, installation is straight forward.
Whether to install a center stand or not really depends on how you plan to ride. If your riding is mainly day rides, and you will be able to do all your maintenance in your garage, then I would buy a rear pit stand and forego the center stand. However, if you will be sport touring on the bike and will need to do chain maintenance during trips, then a center stand is the only way to go.