The 0303067 driveshaft "O" ring should fit snugly in the slot below the splines. The driveshaft is stainless steel and will not rust. The crankshaft however is case hardened high carbon chrome nickel steel and will. The grease is to keep out water. To little grease and the crankshaft will rust to the drive shaft. To much will form a lock which will keep the shaft from being completely inserted. . . 😉
