GRP
I only just had my EDM 700 installed and have only "flown" it for a few hours. So far dead impressed so much data. Down side you must have a safety pilot with you, you'll spend too much time staring at the pretty lights
I opted for the 700/6/lx which is a package with some optional extras( fuel flow,oat,oil temp) got mine from Harry Mendleshonn for just over £2k. If you look at the web site
www.jpinstruments.com they quote 20 hours labour for a standard installation plus 6 hour for each option extra .
I combined mine with an annual and haven't had the bill yet.
Unit comes with a data port at the front + a lead to enable downloads of data to a Palm or Laptop. AQlso get a program to decompress the data and import it into progams like Excell so you can do spread sheets and graphs with it.
My installation is a minor mod, I think you will find that you cannot get rid of any of your original primary instruments as they are part of your Type certification or if you can that will take you into major mod territory.
They do a 701 which is not certified for my plane (Commander 114) which appears to be certified in the states as a primary instrument at least for some types. Contact JP if there is an FAA STC for what you want to do as I understand it the CAA will recognise that as a minor mod.
I ended up with three copies of JP's cd rom training video pm me if you want one.
Good luck