You don't have to drop the exhaust. Remove motor mount bolts, lift engine, drop trans mount lower that side of trans and then wiggle the sucker until it comes out. Tight fit though.

But yeh its a real horrible job.

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no, you don't HAVE to drop the exhaust, but it's a helluva lot easier when you do. the exhaust acts like a lever while you're raising the motor. and, I do mean drop, not remove entirely. leave attached at the manifold but support it at the rear bumper. good luck, chuck.