Replacing pressure regulator

Okay, does anyone think that replacing a pressure regulator in one unit of a triplex is such a huge deal, it cannot be done by an experienced homeowner? It's easy to access the area, it's basically a side patio laundry, shared wall with another resident. It's a 2" pipe behind a drywall (knock it off easily, already has a hole in it to see what's there), with a couple of offshoots, 1/2". The unit has 1/2" water supply all through it.
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Assuming you can shut the water off, replacing a pressure regulator is pretty simple. Take the old one out, put the new one in. You might have to add or subtract some pipe to make it fit. But if you are experienced, you probably know that.
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It is -possible- to do it without shutting the water off. Water will go everywhere but it can be done. I had to replace a simple valve in my mother's basement. Open valve, remove old valve (duck the water stream), screw on new valve, shut valve, get towel and dry off. I wouldn't want to try it if the input is a 2" pipe tho.
Harry K
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