Rakedog - IF you are DIY inclined and have the proper tools, yes a person can install the hitch themselves. I have installed 3 and am not a professional installer. Tools: 1/2" electric drill is a must, depending on mount bit requirements can go up to 5/8" (good one, not el-cheap-o), torque wrench, socket set, etc. Measure 3 times, drill once, and don't wear a watch !
Yes, the hitch is "expensive" by comparison to some others. Ya need to decide first whether you want a clean bed installation when the hitch is removed, then decide which hitch. I personally like/have the SuperRail Mounting system, which requires the Custom Mounts that attach to the truck frame. The one currently made closest to mine is the model 4400, but in the 16K lb range it would be model 4100.
The prices vary and you can shop at Tweety's, RVPartsCountry (where I got mine many years ago), Dyersonline, etc. The model 4100 can be had for around $900.00, the capture plate for around $175.00, the SuperRail Kit for around $550.00 and the Custom Mounts for ohhhhhh around $385 or so.
Add it all up and going the way I did, it's not the cheapest piece of equipment around. Sure does work nicely though. When I trade trucks I purchase a new Custom Mounting kit and keep the hitch.