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My iMac was getting a little long in the tooth, and after using a MacBook Air with an SSD, I got spoiled by the speed of that little computer. So after researching a bit, I decided to take a plunge on creating my own fusion drive using the existing 500 GB hard drive and a 120 GB SSD I picked up on sale at Best Buy.
The total process took me several hours. I had never done this much work inside an iMac before, so I went very slowly and I would watch parts of the video tutorial as well as reading through the documentation (using iFixit's great little iOS app). I would keep double checking what I was doing, as I was worried I'd mess something up. But it basically went smoothly. I then got it back together and followed a tutorial for setting up the fusion drive, and now I'm enjoying faster boot speeds, faster app load times, etc. My computer feels new again! Thanks to iFixit!
Definitely watch the video a time or two before starting. Then just pay close attention to the instructional guide as you go through it step by step. Also, pay attention to the part where it says to tape the cables back and out of the way that you pull from the logic board. It will make putting the logic board back in much easier. I didn't follow that step, and I had a moment of panic when I couldn't find one of the cables and it was kind of a pain to get the board back in with all the cables out of the way. That was probably my one goof during the process.