Yes, it is possible to install. Using the installation instructions/HOWTO. I know it's long (15 pages), but it is fairly complete. Note: gentoo, IMHO, is NOT a good distro for first-time Linux users. But, for someone with a bit of Linux/Un*x experience under their belt, it works just fine. And it's a wonderful thing for people like me, who have fallen in love with *BSD's ports (Except Portage, I have yet to find something which can beat FreeBSD Ports with portupgrade installed, in my eyes), but who need to run Linux for hardware/software/whatever support. Going through the HOWTO, step by step, and reading the notes ahead of time as you go (yes, warnings are after the pertinant instructions, but think of them as footnotes), it's hard to mess up.
Installing it on my second computer right now... currently emerging stage2. What a joy Gentoo has proved to be.