OK...while waiting for a response, I went back out and started pounding on the inner race again...with a hole punch (now destroyed).
Got the inner race out. No collateral damage in the process.
Feeling confident, I started trying for the outer race. The hole punch longer worked. Found an alternate, and REALLY good, method.
One of my craftsmen 1/2" sockets (32mm) happens to fit dead-balls-on onto that little surface area of the race.

This should seriously be a tech-tip!
Put the socket down in there with a short extension piece and started hammering away. Worked beautifully! Now have all new races and bearings installed.
So...went back and tried to fit the old inner bearing onto the spindle...guess what? It's tight also and doesn't go all the way back by hand.
So I'm guessing that this is normal and that I'm just suppose to pound the rotor assembly back into place?
Chris
'85 300SD