Ok, great success. I got the reducer off with a horrible pipe wrench from Harbor Freight. I also got a big piece of the motor out. Tomorrow I'll get some help to lay this thing on its side and get at the bolts on the bottom of the motor.

I also noticed, after getting the side panel off, that one of the 4 vertical supports is completely rusted away near the base. Is this an easy fix or should I take it to someone? I don't have a welder, just basic garage tools.

Next question...
Do I leave this stuff in? All of it, or just some? Obviously I'll keep the sightglass. Sorry for the dark picture.