Recently I downloaded a cheapo Gulfstream 550. It's fine, but there is no virtual cockpit panel. I would like to take the CRJ700 virtual cockpit and install it. Is this possible? If so, how do I do this?
No, they have to be made at the time of the designing of the aircraft.
Well, you can, depending on whether or not the Gulfstream 550 you got was compiled for FSX or not.