Yes you will have to remove your transmission to replace the torque converter (same as for the rear main seal); it's easy if you've done it before, but if not, I'd give it an entire day to do. I haven't tried a TCI converter yet, bro. I've had excellent luck with B&M converters, and a LOT of guys here will tell you PI's are the best out there.
I can speak from personal experience I was NOT happy with TCI's transmission rebuild kit equipped with the "TranScat" shift kit. Well, I take that back, everything but the transcat kit was fine, hehehe. Go with a PI, and you won't be sorry. You get what you pay for in converters.
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Capri306, Moderator, The Mustang Works Online
1979 Mercury Capri, 5.0L -- C4 -- 2.73
1987 Mustang LX Notch 