Yes, that's it. Yes, that should be all you need. Yes, the engine will have to be removed to switch to a pull start.

Hope you know how to tune, otherwise you can expect some serious blisters between your fingers.

Be sure to carefully adjust the gear mesh between the clutch bell and spur gear when you reinstall the engine.
http://www.traxxas.com/support/kb_se...highlight=mesh

Good Luck