I don't know if an early Ford is the same or not but when I was working at the phone company, we had one of those tools above for taking the rear bushings out of the 1970s Ford, Chevy, and Dodge transmissions when they started to leak. It's been so long that I can't remember if those were automatic or manual transmissions that we had problems width? We had an equal number of both types. You'd leave everything in place, but the driveshaft and the tool would pull the bushing right out, it worked really slick. You just need to pay attention to the bushing as it comes out in case there are any oiling holes in it that need to be lined up so the new one can go back in correctly. Also check the fit of the new bushing on the slide yolk before installing it.