Re: Shift rod in 1976 mercury 1500
If you can find a dlr with the NLA (No Longer Available) aluminum Shift Rod Coupler you might be able to get by with just replacing that.
Here's a diagram which I'll assume is similar to your motor:
http://www.mercruiserparts.com/Show...2&bnbr=17&bdesc=BOTTOM+COWL+AND+SHIFT+LINKAGE
Part #19 in the pic, old P/N 55692, superceded P/N 93960A1.
Otherwise, you've got a one-piece upper shift rod and the coupler is mild steel and permanently joined to the shift rod.
The aluminum couplers have splines in both ends, they're a press fit on the upper end and slip-fit on the shift shaft end.
I'm assuming you have an alum coupler, since it would be pretty darn difficult to damage the steel splines of the older-style shift rod.
You may be able to pull the aluminum coupler off the shift rod without removal of the powerhead.
Remove the black plastic reverse lockout/shift rod guide in the exhaust tower and you should be able to get a pair of Vise Grips around the shift coupler. Heat it up with a propane or MAPP torch and it should come right off the shift rod. Clean up the splines of the upper shift rod with a wire brush, apply a coating of Permatex #3 Gasket Dressing to the shift rod splines, and tap the new coupler in place.
When you're driving on the new coupler, be sure to apply downwards pressure on the top of the shift rod. The upwards thrust can otherwise damage parts on the upper end.
Now, the Mercruiserparts.com site says the part is NLA, but I found it here:
http://www.boats.net/parts/detail/merc/M-55692.html
Hopefully their inventory is correct and they still actually stock the part.
Otherwise you'll need a good used shift shaft and replace the entire assy. This of course would require pulling the powerhead.
Anyway, just a few more possibilities, HTH & G'luck..........ed