If you're also adding a windowed piston, you might see some more power after tuning. If you're running a stock motor/pipe, I really wouldn't bother.
Let's assume you have a stock motor/pipe,
1st - I'd recommend grabbing an mz65 pipe ($75-125, beware, the zeda88/cdh66 pipe looks very similar but is garbage)
2nd - get a "high compression" head (~$50, mainly for the beefed up cooling)
3rd - If your jug/cylinder is completely stock, take the time to clean up the intake/exhaust/transfers with a dremel and a carbide bit. Just the simple act of cleaning them up, removing casting marks, flashing, etc can free up .5hp+
4th - Once you've taken care of those items, it might be time for either a bigger carburetor like a vm18 ($80 but really easy to tune) or a phbg 19mm ($20 or so, complete headache to tune. Unless your willing to spend a few hours on tuning, run away from PHBGs). A larger carb, along with a wider intake (
http://mzpartsmiami.com/product/aliquam-quaerat-voluptatem/ ) on top of the previous supporting mods can make a noticeable difference in responsiveness. OR on this step, grab a reed valve, windowed piston and carburetor for maximum effect.
To answer your question:
On a stock motor/pipe, swapping on the $99 dio reed/cylinder/carburetor will lose quite a lot of performance and may not even run.
If you also add in a windowed piston, it should run without any issues after you get it tuned (which may not be easy using an extremely oversized 28mm carb. 21mm is about the largest one of these motors can really use without issues) however you may not see much if any improvement over the stock setup.
Installation is simple enough, remove the 4 nuts holding the head/jug onto the motor. Remove the head. Remove the head gasket. Remove the jug. (Remove piston. Install new windowed piston) Slide new jug down onto the studs being careful to compress the piston rings so they will side in. Reinstall head gasket. Reinstall head. Tighten down the bolts.
Once you're done installing the DIO reed, the hard part begins: Tuning so the bike will run right.
If you are dead set on getting a reed, I'd recommend finding a
BBR reed valve with a 23mm intake, grabbing a
cheap windowed piston (reeds are useless without one), and top it off with a
decent, easy to tune carburetor. With this combo, after you finish tuning the carb, should net you a noticeable increase in power across the rev band. Without any supporting modifications, the results will be minimal but it should be the slightest bit better than stock.