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The standard shift crank for an Olds takes a BCA7109 pilot bearing. These cranks are drilled from the factory to accept this bearing.
You do not have to cut the trans input shaft, as the design works as intended.These cranks are relatively scarce, as the majority of Olds cars were automatic.
You are asking about the conversion bearing, which allows an automatic crank (NOT bored for an input bearing) to be used with a standard transmission.
You MAY have to trim the input shaft for clearance.
I have tried both methods, and the superior one is to have the crank drilled for the BCA7109 pilot bearing.
My attempt with the conversion bearing failed within 500 miles.
This summer we converted a 72 to stick. Although the crank was drilled it was a little too small for the stock bearing so we attempted to use the adapter bushing. We could not get the trans all the way in, we were using a stock bell housing. We fount that the adapter bushing, although fully seated, would not allow the trans to slide in far enough. The splined part of the Muncie input shaft was bottoming out on the adapter. I also used the Mondello adapter bearing on another engine but this was with a Lakewood bell housing and there was not an issue.
What I did on my 67 455, is I bought a pilot bearing for my automatic crank. I understand there has a be very small "air gap" between the back of the crank and the input shaft-and was told this may or may not work from crank to crank. So what did is put a little clay on the input shaft and stuck the Muncie in and pulled it back out and measured. I was lucky I had clearance and never had an issue. This assures you that the input shaft clears the back of the crank.