Thanks for the quick reply. Yes, that is the part I'm referring to. I don't recall seeing it upon dis-assembly, but that was two years ago!
Ah..... I hear ya..... my memory is good for only a few short moments.
I am reinstalling the engine and out drive, as well as the transom shield. My plan was to support the aft end of the engine, centering the flywheel cover in the transom shield as close as possible. Then attach and tighten the clamping ring (with new rubber rings, of course) before allowing the weight of the engine to rest in the transom shield. Yes? No? Thanks.
Well, there is a bit more to this.
Rich, there is a "triangulation" procedure that you must follow.......... but let's back up fist.
Slide your flywheel cover into the transom shield with both rubber cushion rings in place.
Gently snug up the clamping ring with the 6 Tap Bolts.
Watch to see how tightly the assembly clinches down on both rubber cushion rings...... each should compress.
If you see the rings becoming compressed, then the spacer ring is not required.
BTW, at least one of the rubber cushion rings should be new..... and that would be the Inboard ring, as it provides the water seal.