Ignition key (tumbler) cylinder removal

[Rob175]

I want to remove my 98' Boxster's ignition key (tumbler) cylinder for cleaning and lubrication. So far I've seen one YouTube video explaining the following:

1. remove the plastic surround
2. insert key and turn to the on position
3. Stick a paper clip into the little slot located in the o'clock position all the way until the tumbler portion "unlocks"
4. disconnect the wire plug
5. now the cylinder portion is free to be cleaned.

Questions:
1. Is that procedure correct?
2. Once the tumbler is out can I remove the key to clean the inside?
3. How "easy" is the re-install...is it just the reverse using the paper clip or does it just "pop" into place and lock?

Finally, how easy is it to F--k up and not be able to start the car? Any "words of wisdom", tips, tricks, warnings???