Well you will need it. There is really no other safe way to get the flywheel off. Personally, I know other ways to take the flywheel off, but you are just better off, biting the bullet and buying one as it's the safest way. I got one for $15.00 shipped on Ebay.
And yes the mod is easy and "free power". It's just important to mind your plugs and what they are telling you on top of the engine pinging.
Does it give ridiculous power gains?.....no, not really if the jetting is spot on before and after, but somewhere around 1.5-2.5hp(depending on mods) would be my guess of what you see show up on a dyno if somebody did one. Might not sound like much, but even a 2hp increase on a 30hp ported Blaster is about another 7% in power. Running more advance(to a point) will increase it even more(see my thread in the engine mods section), but it comes to a point where you can only go so far before you need to run race/exotic fuels, loses mechanical efficiency, and/or the rate of rod bearing/engine wear is too excessive. The most I have seen to date on a Blaster is 7 degrees and it wasn't on here. On here, I believe somebody was running 6 degrees but on a pretty modded engine. Honestly, I started out at 5 degrees simply just to be different so everybody doesn't think +4 is the end all of advanced timing. After testing it for a bit, I may retard it back down some if I find some reason to do so, but if it runs fine for me there, I'll just keep it there.