On later 490 models, at least 1922, and 1923-24 Superior models you don't have to remove the rear axle and propeller shaft assembly. On earlier models of 490 I don´t know for sure.
Yes, "propeller shaft" is the long drive shaft between the U-joint and the rear axle.
Take a look on
this picture.
I took this picture when I reinstalled the rear axle and propeller shaft assembly, after a major repair.
Remove the four screws and nuts that keeps the U-joint housing together, then slide the rear part of the U-joint housing (U-joint ball) backwards as much as you can, approximately 50mm (two inch). Maybe you first have to loosen the brake shaft bracket and slide it backwards.
Now remove the four screws and nuts that keeps the two U-joint parts together. Slide the rear part backwards.
Now it should be possible to lower the propeller shaft housing enough to remove the transmission backwards. If it seems too tight, maybe you have to change the way that you have suported the rear end of the car. I don´t remember which way gave best room, but I guess the best way is to support the rear end under the frame, and the jack up the rear ends of the springs a bit.
Putting the U-joint parts together is quite tricky. And don´t forget to check that the notch on the two parts matches! Guess how I know.
If you search this forum and the separate 490-forum you will find some threads concering the cone clutch. You can also take a look on
my website, VÃ¥ra fina gamla bilar (Our fine old cars). The text is written i swedish, maybe you can find some pictures that you'll find interesting. Take a look on these pages: New cone leather 2006/07 and transmission 2006/07 on
Reparationer, tips propeller shaft and rear axle 2012/13/14 on
Drivning 2012/13/14