How Hard Is It...........

Maybe so. The ring spacer, for starters is to take up space in the difference between bearing retainer sizes.

The checking of alignmnet is out lined in the instructions when you get the Lakewood bell.

A dial indicator and magnetic stand will be used. It's placed on the flywheel and turned to check the alingment of the circle it makes vs. the one on the bell's retainer opening.

This step, takes a bit of time.