Tools needed:
-Small Philips screwdriver
-Power drill or drill press
-3/8" and/or 1/2" drill bit
-Time
-Patience
Here's a picture of the unsuspecting Stampede, along with the tools I used:

First off, we need to get the beast open. Remove the battery compartment first if you haven't already. Next, remove all the screws you see, which is a tedious and time-consuming process but necessary nonetheless.
After you get it open, be aware that there is a wire connecting the two halves together for the on/off "safety" switch. I simply rotated the half around to gain access to the plunger/bolt sled without having all the screws fall out and without damaging the wire:

After getting it open, you need to remove the large orange piece covering the plunger assembly. There are about 4-5 screws to remove and then this should pop off, leaving you with this:

Next, you want to remove the pieces circled in red here:

After those are gone, you should be able to slide the entire plunger/bolt sled assembly out easily.

There are two screws holding an end-cap on the rear of the plunger (sorry, no picture). Remove this to remove the spring and plunger from the plunger tube.
You will then see something like this when looking down the plunger tube from the rear:

...and the front:

Basically, this is no different from any other air restrictor that Nerf makes. All I did was take a 3/8" drill bit and drilled through the back, exposing the rear of the air restrictor:

Then, simply use a screwdriver or pliers or whatever you want to break out the dart post from the front of the bolt sled. This is crucial because the rest of the air restrictor will not come out otherwise. I tried drilling through the entire thing, but due to the structure of the air restrictor, the drill bit will get caught on it and it will simply spin around rather than drilling through it.
I then used a 1/2" drill bit through the back of the plunger tube again to clear out more of the air restrictor assembly, and eventually everything fell out and I was left with this:
Front:

Rear:

(And yes, I cleaned out the plastic particles on the inside before I re-assembled it)
And there you have it. Simple, clean, easy to do. The stock plunger O-ring does not make a great seal, but I didn't have anything to replace it with so I didn't bother with it. Replacing it might net you a bit more range, but it's hard to say how much.
With the air restrictor removal alone, I'd guesstimate that the blaster shoots about 5-10 feet further. It is also a bit more loud, but it's loud in the first place so it's not much of a difference, really.
Questions, comments, concerns? Post them below. Thanks for reading.
