Whacking on the AV plate is always a little dicey, but I've used a two by four and a mallet, moving side to side -- 2x4 lengthwise along the plate with the wide side against the leg. Hit it downward in the middle, angling a bit inward. If you get a little progress, move to wedges, again side to side.
Good job! How rusty/crusty are the splines on the top of the drive shaft? And was the O-ring there?
for reference: http://ww2.iboats.com/Gearcase/dm/ca...iew_id.1540342 (O-ring #58)
I would have expected the o-ring would be in an internal groove in the end of the crankshaft on that model. But maybe not (???)
O-ring is 310585. If your kit didn't include one, you should get one. Clean off all the old grease and coat the splines with Triple-Guard grease (or a good marine equivalent). Keep grease off the flat end of the shaft to prevent hydrolocking when re-assembling.
There should be a groove near the top, just under the splines. The O-ring is there to keep water out and the grease in.
The o-ring is in the crankshaft !!
That's what I say also. They started putting them in the crankshaft way back in the late 1970's. It is shown on the crankshaft page of the 1992 70hp parts book. Part number 0310585.