I did this not to long ago and it seems to be fine. If you are cheap like me you will not have to buy anything other then the pegs you want. I got lucky and found a set of new Harley pegs at a local shop on consignment for only $20.
Many have said on other threads that to avoid having to drill out the peg hole. You can go to the hardware store and get a smaller bolt and brass piece to fit the peg and attack it to the bike. Well I am cheap so I drilled.
If you look at the parts list on page 24 I think. You will see that the stock peg is made of many different parts. Why I dont know seems silly to me. But If you do not care about your stock pegs you can use some part from the stock peg to help mount the new peg.
First I drill out the peg hold to fit the hex bolt. I would advice to go a little bigger then needed if you do what I did or something similar as it makes it easier to mount the peg.
Then I took part #11 and #12 off the stock peg and ground off the tabs. I then took those parts and ground out the hole a bit so they would slip onto the new peg. You will see as you do this how it should line up and be put on the peg. This is going to be used as a washer of sorts to prevent the peg from dropping and and to keep it tight.
Like I said before drill the hole slightly bigger the the bolt itself because I found that if it is exact it is almost impossible to get the bolt in with the washer in place.
I have only had them on for about a week but the washer seems to be able to hold my weight fine. I am about 205lb right now.
Hope this help.