I just replaced the IMRC in my 97 (part cost is $164)-- it's as first described; below the plastic cover. It's bolted on the front valve-cover with 3 bolts.
It's basically a metal box with an electrical connection and a cable. The tricky part was uninstalling the old cable and installing the new cable as it's buried beneath the TB (throttle-body). The cable connects to the secondary linkage.
I removed the TB (throttle-body) for easier access (and to see what the hell I was doing).
Suprisingly, the whole job only took 1.5 hours -- the shop quoted 3 hours ($225). Not bad for a 1st timer. Shops are such a rip off.
FYI -- part was replaced due to CEL code P1519 (IMRC stuck open)--could be how my precat got plugged. I did notice an immediate difference with the new one, but I still have a plugged pre-cat. Once the headers are installed, I'll be back-in-biz.
Thanks for the location and install info!