No, you would not void your warranty. RAM is a offical apple 'user-installable part', although Apple is not liable for damage you may incur, it does not automatically void the warranty.
It is terrifically easy to do. Order up a 200-pin (184-pin won't work - it's much wider, go figure) 333Mhz PC2700 DDR Ram card in the 512MB size. A competitive price right now seems to be $80-$120 USD. I got mine from OWC (
www.macsales.com). It cost a little more, but it came with a lifetime advance replacement guaratee (they will ship you a new module before they receive the defective one back). Anything will work, although 'name-brand' ram is better, and a bit more costly. Also, look for a good warranty on the chip.
As for installation, the only tool you'll need is a Size 00 Phillips head screwdriver. Make sure you get the size 00 - and if you don't have one, go get one. Any other size will strip the delicate screw heads.
Simply follow the instructions in the manual. This involves powering down, removing the battery, touching a metal surface inside to discharge static electricity from your person, removing three small screws with the screwdriver, and popping the module into the socket. It will take less that five minutes, and you'll save money and time as opposed to getting it from apple.
The only possible hitch is that non-apple-spec'd ram (I think the currect spec is Samsung ram) can cause a very rare problem if a firmware update comes along. You might remember the incident with the firmware upgrade on the Ti's a few months ago. Certain brands of RAM stopped being recognized by the computer, for unknown reasons.
This is a very rare problem, and something that will probably not happen again, due to more care in software authoring on Apple's part, and the risk is far outweighed by the benefits.
So, go for it. It's painless, and cheap.