Re: 850 (1973) Mercury Impeller Removal.
One thought about impeller replacement...........if you don't know when it was last replaced, do it! Otherwise you'll stand a strong chance of burning up your powerhead and turning your motor into a boat anchor! Definitely cheaper to invest $22 for a new 47-89984T4 impeller, a few bucks for some pump gaskets and maybe a pump plate (only if it's worn). Also a new O-ring for the driveshaft (seals the splines where it enters the crankshaft).
It's a relatively easy job, the instructions the O.P. gave are great. Just be sure to use some waterproof boat bearing grease or Mercury Corrosion-Preventative grease on the driveshaft and shift shaft splines (but wipe any excess off the tops), also on the bolts/studs so they don't seize up in the future.
And very very important not to move the shifter or shift shaft in the lower unit, after removal. This'll ensure that she still shifts correctly after you reassemble. Take a look at the postings here everyday, you'll see that getting this messed-up is a real common problem. And easy to prevent if you're careful.
Check out the parts diagrams at
www.boats.net www.crowleymarine.com or
www.mercruiserparts.com for lotsa good info on your motor.
HTH & Happy Boating........ed