Re: 470 engine alignment
Inspect the splines on the shaft for visible wear, generally if the splines
are worn then the coupler is also worn. If wear is evident replace the parts
as needed.
NEVER Force the alignment tool in, you can damage the tool and the coupler.
NOTE: If you find the tool will not slide into the gimbal simply remove the
black coating on the largest step with fine sand paper.
1) Once you have the engine height close enough to
fully insert the tool without force, then you can start
working on setting the proper alignment.
Take your time, getting it close enough to insert the
tool the first time can sometimes be the hardest (most
frustrating) part.
2) Coat the end section of the tool (the smallest diameter
area) with a light coat of grease and then insert it fully
into the coupler.
3) Without turning the tool, pull it straight out and look at
the depth of the teeth marks in the grease.
If the teeth marks in the grease are deep on the
top side and shallow on the bottom side of the tool then
your motor is too high.
If the marks in the grease are deeper on the bottom than
on the top then your motor is too low.
4) Adjust the engine height accordingly.
5) Keep checking the depth of the marks in the grease until
they are equal in depth on top and bottom.
Sometimes as little as 1/8th of a turn on the adjusting nut can be the
difference between being properly aligned, and just having it "close"
Lightly Grease the splines on the shaft (and on the coupler if you can) with
Spline grease prior to assembly.
This is what I've been trying all morning, except when I remove the tool, the spline marks are deeper on the right side, indicating to me that I need to move the engine over to the right (I've been trying to nudge it over all morning) or tap the gimbal bearing to the left as explained by Chay, however I was under the impression that the gimbal bearing could pivot, but not move laterally, or maybe he meant just to adjust the pivot.
I've got my work cut out for me. Not only did I replace the gimbal bearing, but I also had to replace the rotten wood under the front engine mount. Didn't think to make a template for the holes before I cut out the fiberglass and rot.

However, I didn't mark and drill the front holes until after I could insert the tool with light/moderate one-handed force.
My adjustment options are, correct me if I'm wrong...
moving the aft end of the engine left or right (due to play in the rear mount),
moving the front mount left or right
moving the front mount up and down
It seems to me that raising or lowering the front mount only pivots the engine about the rear mounts. How do you raise or lower the rear of the engine?
Of course, the manual makes it sound so easy: torque down the rear bolts then move the front of the engine up or down...
Let's see, I'm up to about 700 trips up and down the ladder....