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Easy work. Done in an hour. It's always good to bleed the brakes, but I've never bled brakes after changing pads. Just change out the fluid every couple years, which you should do anyway. You'll also need a box or something about 12 inches tall to set the caliper on so it's not hanging and pulling on the line. need to replace the brake pads on my 2003 330i. I bought the pads, and new sensors, planning to do the work myself. But now I've discovered that I'm really supposed to bleed the brake fluid as well. I know it's supposedly an easy job, especially with a power bleeder, but I've never done brake work before.
The term bleeding the brakes refers to the process in which a small valve is opened at the caliper (or wheel cylinder) to allow controlled amounts of brake fluid to escape the system. (When you think about it, bleeding may appear to be a somewhat graphic term, but it aptly describes the release a vital fluid.).