I've got one of the Colt kits, so my experience might be a little different, but all of the kits operate on the same basic principle.
The conversion kit is a drop-in replacement for your bolt carrier, open the upper and lower, remove the bolt carrier and drop the conversion kit in, close and you are ready to rock. The kit has a metal tube that goes into the chamber to adapt it to .22lr, and its straight blow-back, it doesnt need the recoil buffer or anything. The biggest problem I have with the Colt kit is that the ejector is part of the left feed lip on the magazine, and that sucker is SHARP! If you dont watch what you are doing, you could cut your thumb.
In all, its great fun, especially for little kids. My GF's 9 year old cousin loves my 20" A2 on sandbags with the .22 kit installed (even though there is no way in hell he can get a cheek weld on the stock and still use the sights).
Kharn