That screw you're pointing to is where the power hits it from the main circuit breaker from the battery
That's where you want to check it for voltage. If you don't have voltage the circuit breaker's bad.

 

Had to replace the original switches on both my 95 and 96 EVOs within 6 weeks of each other recently. OEM hard to find, aftermarkets switches are a crap shoot. One came wired backwards in the box. I returned it and the replacement was the same, so I rewired the harness connector, made a note in the manual, and installed it. The barrel keyed 95 Sporty lock from V Twin spits the key to the floor if left in the off position. The Drag Specialties flat key doesn't do this on my 96 FXD, but I wonder about the security of these generic looking keys.

 

This is exactly what happened to me. The switch you have looks like the aftermarket switch that was on mine. There were two spring loaded copper wipers in there and one of them came loose and would short out at random times. I could move the switch back and forth to get it to stop shorting and get home. I took it apart...it was total junk. In this pic you can see where the lower left copper wiper is missing...it was rolling around in there and would short out at random times.

 

Trying to figure out if I want to install the new ignition switch myself or not, as I'm not very mechanically inclined.

Remove negative battery cable
Unbolt old switch
Bolt in new switch and put the wires back on same way as they are on the old one?

Is that all there is to do?

Thanks guys

 

Pretty much.. But take a picture first of the old switch with wires connected..

 

Being all your wires are the same color, a picture won't help you.
Put number tags on them.