I do it all the time- just did it last month. The only thing that is a pain, is getting the VIN verification form completed. You have to take the form, and your bike to a local Police Dept and have them sign it. Also, a new requirement is that you also have to have that police department generate a letter stating that the officer who did the inspection works in law enforcement. It also has to be on their letterhead. For me, that part was easy. I called the local sheriff department and they sent an deputy directly to my house for the inspection. It doesn't have to be a full bike - this most recent time I only had a frame for them to inspect.
After you get the vermont stuff, you can either transfer to your own state, or you can drive as is. Usually i would transfer, but this go-around I am leaving the vermont plates on the bike and will drive it.
I think this recent time around it only cost me like $60, and that included plates.