The point of gw is that you're gradually changing the routine and teaching lo how to sleep independently - it tends to be a bit gentler than wi/wo (only in that it's not a sudden change) with less crying, but it generally takes quite a bit longer because you're going through a process to remove the prop.
I used gw to wean patting about a year or so ago... D was going through some wicked teething, and we found that whoever was putting him down had to pat his bum in the crib until he was asleep, then start patting softer and softer and slower and slower and sneak out of the room. Then the teeth broke through so we tried to go back to our old routine (just laying him in his crib, patting for a minute or so, then saying goodnight and leaving) but when we stopped patting he would roll over and look at us and start to cry when we tried to leave! Oops...
I decided against wi/wo just because I felt it wasn't right for us (the same way pu/pd wasn't when he was younger) so I did a gw of the patting. I patted until he relaxed, then started patting more softly, then just rested my hand on his bum until he was asleep. I kept that up for about a few days, gradually shortening the time that I was patting, but he was still falling asleep with my hand on his bum. Then I started taking my hand away before he was asleep, but still standing right by his crib as if my hand was there, even though I wasn't touching him, kwim? Again, I kept that up for a few days, taking my hand away earlier each time but always still standing by his crib until he fell asleep. Then I did everything the same, but stepped away from the crib when I took my hand away. This was probably the hardest step, as he rolled over and looked at me when I moved away. He didn't cry though, so I just stayed 'goodnight sweat pea' (our key phrase) and stayed in the room until he fell asleep. Couple days of that and he no longer rolled over to look at me, so I would say our phrase and then leave the room. The whole process took less than 2 weeks, probably because he had been sleeping pretty much independently before so it was just getting back to it. To this day we still do a bit of a back rub after we tuck him in (maybe 2min if I had to guess?) but it's just a nice part of our bedtime routine and it helps him settle
So in your case, for the rocking, the steps might look like (I'm assuming you're rocking until asleep):
1. rock until asleep, but don't wait the 5m, place in crib right away keeping your hand/arms on him (with or without motion) so that he feels your presence if he stirs.
2. rock until almost asleep, place in crib keeping your hands/arms on him (w/ or w/out motion) until he is asleep
3. rock until almost asleep, place in crib keeping your hands lightly on him
4. rock for less time, place in crib keeping hands lightly on him
... keep rocking for less time, placing him in his crib awake but relaxed with your hands lightly on him
... get to the point where you're not rocking, just holding before placing him in the crib
... take your hands away earlier and earlier as he's falling asleep (staying by his crib so he feels your presence)
... get further away from the crib, until you're out the door
Those are just some examples, but keep in mind that the nice thing about gw is that you can make it work to fit you and your lo. And if you enjoy a little rocking (the way I don't mind rubbing D's back before sleep) you can incorporate it into your routine, the important thing is to make sure that it's not necessary for him to fall asleep. And I would keep everything else in your bedtime routine the same and only change the prop that you're gwing. You can decide too how you're going to tackle any nw - if you want to wait until bedtime is settled and then tackle them, or if you want to give it a go all at once. You could probably go either way since it's a different prop (ie, rocking at bedtime and then cosleeping for nws). If it was the same prop (like feeding to sleep, for example) I would definitely recommend doing it all at once as it can be confusing for lo, but with different props it's really up to you.
Let me know what you think?