Get a wireless one. they are more expensive, but are 1000x easier to install. The batteries last 5 years.
They are a cinch, especially is you have a sprinkler timer that is less than 10 years old, they will have a specific sensor input. All you do is mount the sensor to a gutter or screw onto a fence (the wireless ones have a range of 300 feet). then you follow the instructions because you have to route certain wires from the timer to the sensor and the sensor to the timer. The sensor is really just a relay that cuts common power to the valves when it rains.
It took me about 20 minutes to install and I've never done it before.
EDIT: The one I installed was the Toro 53770 Wireless Rain sensor. You can find it for about $50 at Lowe's/HD, but I found it for $40 shipped on Amazon.
[This message has been edited by helgs (edited 5/13/2010 9:04a).]