http://www.lnengineering.com/ims.html
I have a very detailed explaination of all the differences between the various IMS's from 97-08, and what can be done.
You have a few options:
If it's a single row bearing IMS, yes, you can remove the bearing and replace it with our IMS retrofit kit (available from Flat 6 Innovations).
If it's a dual row bearing IMS, as posted earlier, you can only update it by tearing the engine down and sending us your IMS, which we then modify, and returned upgraded.
There isn't a good way to identify what kind of IMS you have, single row or double row, short of pulling the flywheel and doing a physical identification. At this point, what can be done regardless of model year is that you can remove the seal off the front of the IMS "sealed" bearing, to allow better lubrication of the bearing. I have an explaination of why on the page I linked to above. It's best to do this when doing a clutch job, since you have to pull the transmission as well as the flywheel to get access to the IMS.
Fire away if anyone has any questions after reading all the details on our web page.
The only other recommendations I have are that you should change your oil often AND you should use an oil like Royal Purple, or something that has a quality friction modifier, like moly. This will help improving longevity of the IMS bearing once the seal is removed from the front to allow fresh oil to cool and lubricate the bearing.