Re: pulling flywheel 1961 40hp Johnson
10-4 on that tx. Leave them alone. The flywheel may be stubborn, but be patient she will come off. I usually tighten the puller bolt down down, then wait a bit, then tighten down a bit more, until the flywheel "pops" off. It will be loud and you may think you broke something, but that's normal. I would also leave the flywheel nut albeit loosened several turns just to prevent the flywheel from popping off all the way when it does come free. Also, be sure you reverse the direction of the wrap/strap when you go to tighten it back on and be sure that you tighten it down to the proper torque spec. You really don't want that thing coming off at WOT (unless you can duck really, really fast)! Once you get the flywheel off, the ignition is the same good 'ol OMC magneto system they used for years. You can clean and reset the points to .020, but I would suggest you just replace them. A tune up kit with points and condensers is only about $25 and worth every penny. I would also recommend you replace the spark plug wires. You can 7mm COPPER core wires (you can't use automotive graphite wires) at most NAPA stores (or other autoparts stores) for about $3 a foot. 6ft.-7ft. would be plenty for both wires. A couple new boots should only cost about $1.50. Be sure you twist them on to the coil posts rather than just poking them on there. You'll be amazed at what a difference it can make. Assuming the coils are good, if you replace the points, condensers, spark plug wires and spark plugs, you'll have a virtually new ignition system for less than $50 and it will be trouble free for years so shouldn't have to bother with taking the flywheel off again for a long time. These may help too. Good luck.
http://www.duckworksmagazine.com/03/r/columns/max/07/index.htm
http://www.duckworksmagazine.com/04/s/columns/max/24/index.cfm