(http://i278.photobucket.com/albums/kk91/electro_handyman/Bike%20Tech/4v_center_stand.jpg)
This is what I run on my K75. Why?
1) It's a better design. Unlike the earlier center stand, it won't fill up with water, rust through and unexpectedly cause your bike to take a nap.
2) I haven't tried it myself but I've heard that this will also allow you to run a 4.5x18 3-spoke rear wheel.
Since both the early and later center stands use the exact same mounting bracket it will bolt right up to the transmission and you can use the same side stand and the side stand retractor mechanism still works.
(http://i278.photobucket.com/albums/kk91/electro_handyman/Bike%20Tech/k75F_tranmission_back.jpg)
(That picture shows a 4V side stand. I later replaced it with a 2V side stand so I could use the retractor mechanism.)
Installation:
If you have access to a lift then you can just roll it onto the lift and clamp the front wheel in to keep the bike upright while you install it.
Another option is to elevate the center stand an inch or two off of the ground. Similar to doing a spline lube, you can remove the L-Jetronic and battery and run a saw horse through the frame to support the bike. (Note that it might be a good idea to do this when you have the bike apart for a spline lube.)
(http://i278.photobucket.com/albums/kk91/electro_handyman/Bike%20Tech/K100_splinelube.jpg)
On my K75 (K75C frame with a 140/80-17 rear tire) it's not an issue but I've heard that on some bikes, due the 4V center stand being slightly shorter than the earlier one, that the rear tire may not fully come off the ground if you install the 4V center stand. This is easy to overcome by installing some spacers between the center stand bracket and the transmission like BMW does on the K1100LT. The BMW part number for these spacers is 46522312703. (You'll need four.) Alternately, you could use generic washers or spacers from the hardware store.