I had never done it before either. But then again I was shown by someone who has. Its really not very hard at all. Especially with so many cheap E7's heads out there just incase you screw one up
here's a link, i havent completely read it so im not sure how good it is
http://www.fordmuscle.com/archives/2...ng/index.shtml
all i used was one carbide bit and a die grinder. I used layout die around the intake and exhaust ports, put the gaskets on there and scribed an outline of the gasket around the ports. I then ground out as much as possible (and completely removed the huge thermactor bump) and smoothed it all out to the scribed lines.
hope this helps a little