The torque mount is fairly important. It keeps everything in place when the engine is trying to torque over from either a launch or a stop. While this one isn't completely shot, it needs to be replaced before it isthat happens, so as to not cause issues in other areas of the vehicle. It will eventually affect the other motor mounts (because they have to do the job the torque mount is doing right now ... pickspick up its slack, let's say). It also causes stress on the exhaust system due to the extra flexing going on.
As far as replacement, you are exactly right. This should be a straight remove/replace operation. As long as your other mounts are in good shape still, you shouldn't have any issues. You may want to ensure you have a long, thin bladed screwdriver to help you get it aligned during installation. Other than that, just make sure you have the same bolts in the same holes and you're golden. (NOTE: The bolts don'tEach bolt doesn't have to be ingo into the exact same holes ...hole it came out of: if you have two bolts/nuts wherewhich are exactly the same, they can be movedswapped. I'm just suggesting not to put the wrong size bolts in the wrong holes ...-- that could get ugly.)