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I wouldn't remove the water neck, as the mounting ears are easily and often broken. I wouldn't woryy about using the rear of the shaft to establish the end play, but if you are going to use it then simply install the water pump with no gasket and you ahould have no end play. Then with the gasket installed you should have just the slightest bit of front to back play. As mentioned, the locking collar is a good simple way to take up end play. I just push the collar all the way against the front seal retainer and lock the screw, then check to see that there is no binding, and so far there never has been.