I had an issue with intermittent muting of the phone when mute was on. After reading the guide and responses, I decided to give it a try.
The repair went great! Photos were very helpful and gave me the necessary help to replace the button.
My issue was actually due to a cracked housing that holds the mute switch on the inside of the phone, probably damaged in a drop. The housing sheared in half and caused a mis-alignement of the external switch ($4.95 part) and the internal mechanism. After installing the new part, aligning the internal switch, and reassembling it works perfectly.
A few pieces that help you when working:
1) A mechanics magnetic bowl. You can pick them up at home depot for around $10 and work great for holding your screws. It reduces the chance of knocking them off of the table.
2) A screw driver magnetizer. It will help greatly when trying to align the small screws.
3) Definitely get the spudger and suction cup from fixit. A must have for undoing the connections and removing the screen.