There's no way I can (or want) to flip the saw over. I'd have to remove the fence rails, the router table extension, etc. Even then I couldn't flip it over on my own, so I wanted to try something different.
I decided to see if I could get the arbor out by going in through the side. To get the arbor out you need to remove the rear bearing retainer ring (3 screws) and a c-clip. (shown below) To get the entire arbor assembly out, all you need to remove is 1 e-clip. Then you can R&R the arbor on the workbench. The problem is, it's really hard to get to the screws or the e-clip from the back or bottom of the TS housing. That's why people flip it over and remove other parts.
So, I broke out the oscillating tool and made an access hole:
After removing the belt pulley, I had access to the back side of the arbor. You can see the 3 screws for the bearing retainer ring. On the right you can see the link plate and the bottom of the e-clip.
I popped the e-clip off of the link, slowly tapped the arbor assembly off of the link pivot rod and height adjustment shaft. Once it was free, I lowered the assembly out through the bottom of the saw and then removed the arbor.
Since I had a spare arbor that already had a new front bearing on it, I decided to use that and just add a new rear bearing. Once the rust was removed from all mating surfaces and pivot shafts, the arbor assembly slid right back in. No tapping required.
The only alignment issue that I ran into is that the blade is about 1/32" off from it's original position. You can see here where it cut into the zero clearance insert.
The insert was getting sloppy anyway, probably from the bad bearing. I have a few blanks, so it's not an issue. I will need to do something about my sleds though. I'll probably just glue a strip into the slot and re-cut it.
The only thing left is to patch the hole in the housing. A piece of plywood to cover the side will give me a place to hang feather boards and other accessories that are currently taking up shelf space.
The saw is purring once again.