Ken--yep, I know to loosen the outer nut first, it's just a little difficult to keep a slotted screwdriver from popping out of the head on the other side while trying to break them free.
Seems as though the bearing does not fit on the shaft flush (far enough) due to a tiny c shaped wire that for some reason sits in a machined groove inside the bearing assembly. Interestingly enough, when I pop that wire out I can get it on flush. So that's apparently why the bearing wasn't on quite far enough before, and still won't be unless I leave that wire out. I have no idea what that wire is for, but I suppose I might find out in a hurry if I put everything together without it.
I see that after loosening the 2 screws that hold the main pulley on (I don't think that pulley was in the right spot either) that I can mount the pulley wherever I want on the shaft. Not that I want it spinning against the front of the engine, but shouldn't there be a stop somewhere? I can put the key anywhere in the groove on the crankshaft I want, so I guess the idea is to set the pulley on (temporarily), push the locking collar against it, shove the bearing (female) over the (male) locking collar, then slide the whole shebang back and forth until the front of the bearing is flush with the front of the crankshaft (assuming I throw that wire out)---then tighten everything. Seems to me there should be some sort of stop on the key to let a guy know exactly where to mount the pulley then work off of that--maybe not.
I'd still be messing with it, but the cub was starting to look like a real good 75 yard target for the .357 mag, so that's about when I call BREAKTIME!!!!!