James,
I just replaced my fuel pressure regulator not to long ago using Dino's excellent write up:
http://www.vehicross.info/forums/sho...or+replacement
This should give you all the information that you need. There is a little fuel pressure, but if you cover the regulator with a rag when you crack it loose you should be fine.
The one thing that I will caution you about is to hold on to the allen wrench when you take the bolt off of the back of the metal cover. Mine dropped down the back of the engine never to be seen again. I heard it rattle around as it fell, but it made a soft "whump" when it stopped and I just couldn't find it so I had to cut another one down.
Good luck.
"The major difference between a thing that might go wrong and a thing that cannot possibly go wrong is that when a thing that cannot possibly go wrong goes wrong, it usually turns out to be impossible to get at or repair."
-Douglas Adams, Mostly Harmless