I had thought about pressing out the shaft also. The way the one I have is made you can not press it apart without a lot of surgery. Then you would have a big mess. I felt it was easier to make new pieces and a new pin and sleeve, then weld it all back together. If I was building hoist's I would build it like the one I drew, not like the one I have.
Maybe .040 thousandths isn't enough but .060 thousandth is right at 1/16 of an inch. It would hold more grease around the pin though.