Mostly painless, but slightly nerve-racking. This process was pretty straightforward and is described very well in the instructions, i.e. put glue on inner edge of foam and on cone.. stick on cone, then put glue on outer edge of foam and stick down. The part you have to be careful is that the alignment must not pull the cone any direction otherwise you may misalign it and cause it to rub against the metal part of the speaker.
The speaker came with a cardboard frame around the edge of the foam. The last step before putting the speaker back into the housing was to just glue this back on, making sure that the screw holes lined up. You can also see my second speaker in the background of this photo face down in the "drying position". I let these set for about 12 hours before testing them out and about 24 hours before little putting these babies to the test.