The snap in adapter pops out. A connector and a 1"x3" circuit board are integrated into the adapter. Once I had the adapter out, I cut the adapter plastic in order to release the phone connector/circuit board.
You can hide the connector under the console (near the console latch area) by either removing the console or cutting a small opening in the console area that is hidden once the new tray is in place. A friend just did the cut option (cut out a small area near the front tray mounting screw holes in the console and then squeezed in the connector/adapter under the console). Once the new tray is in, you cannot see any cuts.
Check out this post for details on removing the console:
http://e89.zpost.com/forums/showthread.php?t=1058216