well - it all depends on your knowledge that we know nothing about...
but here we go...
We assume that you already have:
Wiimote with working bluetooth connection to your pc
IRpen of some sort
1 download Wiimote Whiteboard software
2 connect Wiimote to your PC
3 start Whiteboard application and calibrate your working area
4 start using your IRpen as mouse
So what do you think can be the hardest part here? for some its obvious that the IRpen is tricky - especially the IRled to use...
Some ppl have reported problems working on Whiteboard but that is more related to the position of the Wiimote (out of range for camera?)
knowledge of coding is only needed if you want to mess with the code...alter the software or develop something yourself...
so on your 1-10 scale
IRpen = 3 (but requires basic soldering knowledge)
Basic setup = 1 (plain computer skills)
position of wiimote = 2 (trial and error)
1 full weekend - naah more like 5 minutes

(I started initially without IRpen - used a remote instead...later I finished an IRpen and borrowed a projector at work)