Oh yeah, the only wire you have to cut is the AFM wire, the rest are taps.
Apexi give you some bullet connectors for the cut wires so you can unplug the device and not have to resolder anything but IMO soldering is safer and more reliable...
So far I've cut my speed sensor wire for the RSM, 4 pos and ref wires for the ITC, and the AFM wire will be cut any day now...
Practising the taps is a good idea. I usually use a small pocket knife and cut all the way around the wire at both ends of the tap, then slice (gently, gently) down the wire and peel of the insulation...