I've done this several times but on bigger sailboat engines...including replacing beds. Same way you want to but used a forklift with long forks to lift the engine out. For alignment (especially on a trailer boat) I would go with flexible mounts (shaft coupling). They eliminate 99% of the alignment problems and keep wear, vibration, etc., to a minimum. Hard couplings are a pain...if you use them do the alignment when the boat is in the water, never align while the boat is out. This is an excellent opportunity to install a drip pan if you don't already have one. I didn't see why you are pulling the engine but this is also the time to pull the tranny off and clean inside...all kinds of crud from the discs settles in them. Bill P.