Originally Posted by Slackwater
I have a 71c that is leaking transmission fluid out of where the no 48 shift lever goes into the transmission. I am assuming this is caused by a defective no 40 o-ring. Does this sound like a correct assumption? If so I'd just like to confirm that I can replace this o-ring without disassembling the rest of the transmission. Making such the spring doesn't go flying into the bilge. I.E. By just removing no. 33 valve cover plate, shift lever, etc. and pulling the no. 39 valve out. Then replacing the o-ring and reassemble. From your thread it appears I can do this in the boat as I have excellent access.
All of the above is true... the entire shift body can be removed easily, o-ring replaced, etc.