Well, after a lot of waiting, I got this done.
Okay, not "I," and thankfully. The lever itself was no problem, but installing the DSSR was horrible. M5 deamon was defeated by the old selector rod, and it and it took some work by his master mechanic of a father to remove the last clip. From there, it was still rough seas. The DSSR needed some ***-kicking in order to make it fit nice and smooth. I'm glad I didnt jack the car and try to do this myself at home.
But now that it's all done, I'm extremely pleased. The car was already a pleasure to drive, and now it's even more. Shifts are precise, smooth, and shorter. Any rubbery feel is absolutely gone, and there is almost no notchiness (I'm attributing this to the 24-oz shift knob). I thought that the length of the lever would have anything to do with this, but it's not overly short in height. Yet, I need to move my hand a lot less in order to shift gears. I will say, however, that shifting takes a slight bit more effort now. Nothing alarming of course, but this is possibly because of the lack of rubbery feel.
As for the rubber insulation in the shifter, use (as someone mentioned) soapy water, or just spray it with some WD40 and work it with your fingers. Removing it, on the other hand......a bit tricky.
Here are some pictures of it installed.