I've got it running pretty well now. Since I have it running off of a VFD, I've been able to trial run it while adjusting things, at half speed or so. Now, I'm running the VFD at 60 Hz and the hammer is working smoothly.
I'll write some text here about what all I've done since the other day. Tomorrow I'll try to go take some pics and insert them into this post where appropriate.
First off, the hammer would skid itself around a bit when running. Since I rent this shop and don't want to have to cut a hole in the floor and pour a hammer foundation, the wooden pad will have to do. To improve this, I drilled holes in the slab for 1/2" drop-in anchor bolts, then bolted angle iron stops along the sides and front of the hammer pad to contain the hammer pad from walking. The angles are only bolted to the floor, not to the wood. I figure if they are connected to the hammer as well, they'll probably tear up the slab at the bolt holes.
This worked well, so far. The hammer is now stable when running, and doesn't rock side to side much, either.
I had been having a problem with the clutch failing to disengage fully. I unbolted the clutch blocks and removed shims one by one, checking for improvement each time by running the hammer. I removed a lot of shims and it didn't fully fix the problem.
So, I figured the clutch pulley was riding too tight on the crankshaft. There is a grease zerk on the inside of the pulley, for the clutch babbitt bearing. I greased the heck out of the bearing, spun it by hand, greased it more, ran the pulley at an idle, greased it some more, idled it more. After a while, the pulley spun on the shaft with much less grab. At this point, the clutch began to disengage fine. I ended up putting a couple of shims back under the clutch blocks when finished. I may put one more back tomorrow, as the tread ring bottoms out slightly when fully engaged. (Edit- I did put one more back. It works well now.)
While working on this, I noticed that the shift fork was badly shaped. Some one had weld repaired it crudely in the past, failing to bend/align it correctly afterward. I took it off again and re-welded it more strongly, then hammered it and checked it until it fit more correctly.
At this point, it fit well, but no longer lined up right with the pivot pin hole. I used the oxyace torch to cut the bottom of the fork out about 1/4" deeper on both sides, and filed it back smooth. Now it fit up and the pivot pin went through smoothly.
I also added a new washer to the cotter side of the pin here.
I added washers to the front of the toggle arm/link joints to remove some play.
Points left to improve: Tomorrow I'll regrind the top die a bit, it's too aggressive a drawing shape. (Edit: Did that. Much better now.) I'll put a shim back under the clutch block. (Check.) I'll shorten the clutch link rod a bit- no problem with the turnbuckle welded into it. (Check.) And ultimately, I'll finish building my new double-adjustable toggle links and install them. (Soon.) These old beat-up ones actually work OK for now, though. And, I'll build the safety cage around the linkage. (Done. See below.) Oh, and re-bore the pin holes in the toggle arms, then turn oversize pins for them; the holes are worn significantly oblong with use. I'll still post when I do anything major to this beast on the future.
My wife took a short vid of me drawing out some stock on it. I'll post it too.
I'm putting this sucker to work now, got a lot of stuff to pound out for a fair over here next weekend!