This is fairly straight-forward with the Merc cranks, no drilling is necessary, only tapping the existing holes for some 3/8" NPT plugs! Most OEM plugs come out with a "body-dent-puller" (as seen in the photo below)!
We do every one with this procedure, never went back to pressed pieces!
We also do the Ford shafts as well, but these need drilling! Definitely more labor intensive!
Thanks, Gary in N.Y.
P.S. Just be certain a fairly new tap is used, the crank material is reasonably "tough"!