Dave Kirk - Oh Great One - Inventor of the Killer Kohler, and several other out of site upgrades - isn't it odd the left hanger is the one that wears oval while the right hanger is longer and would seem to carry more of the load? I had this issue with my 1450 and at that time I replaced with a new lift arm (but that was so long ago and before used parts were readily available, and I also didn't have a drill press or access to one. I've seen this problem on a 1650 that had been drilled and used an oversized roll pin, so I'm not sure oversizing it would hold up that long (which is what it sounds like Scott T discovered. I don't know if the lift arm is still available "new" and 20 years ago it was expensive, so you may have to go used to replace it and finding a good used one may be difficult (try Scott Madson). Welding and re-drilling may be the best answer. Since you have alot of possibilities let us know which you decide. Now, I have some further concern that after this is done you may discover you still have a "lean" in your deck. I think there may possibly be an FAQ on this but Steve Mr. Plow Blunier has some great info on the sub-frame fork wearing and how to go about correcting it to be better than new. This might be another cause of your "lift and lean" problem.
(under edit I never had an issue with the right arm as Ron S decribes, maybe because the subframe parts wore).
Bill J - I think you got it on reading the Hour Meter. There is an FAQ for it as well, but just add the numbers up, about 450 yellow, 32 white, and 7 red gives you 489 hours. If you want to know how many times it's turned over, well now that's another story. That one lug will hold your engine up, supposedly and according to the service manual. I think some of the guys will confirm it will work. I never had a sky hook to connect to it so I always had to use the back breaking method. As far as which bolts to remove from the rag joint, I think you may end up removing all 4. You can try first by just removing the 2 that don't go thru the drive shaft coupling, but I seem to recall there is an issue with a ball joint coupling behind the rag joint, that you don't really see. And I think but don't recall for certain that if you just remove the 2 bolts going thru the drive shaft coupling then there is still an issue with how far the drive shaft goes thru and into a centering ball (but I just can't recall for certain). I guess I'd probably start with removing the bolts in the coupling. You'll have to lean the engine forward anyway and it may be enough to get it out. I believe you have a rag joint at the other end of the drive shaft so you'll have some flexibility there as well. But, when it comes to putting it back in - well, if you got it on a chain hoist it will allow your 2 hands to be somewhat free for working on the alignment. As for installing Isomounts without removing the engine = nitemare!!
(under edit Jeff B says it so much quicker and shorter than me).
Hydro Harry
Old Cubs Never Die
