Reply to ccjersey:
The driver needs to be soft enough not to shatter off bits when you strike it with a sledge. Bolts are a good candidate. You might get by with some cold rolled shafting for a few uses. I would stay away from axles etc.
The master pins are usually marked by a dimple in the ends. If you can't get it to budge, then heat the links a bit with a torch.
JJP - You need to determine the type of master pin retention you have. Cat used three types of master pin retention over the decades. Early style of master pin retention involves a tapered plug that has a threaded hole in the center. Then Cat went to a tapered plug that was just hammered in and out. This was a relatively short-lived idea, before the design was altered to a solid pin that is just a .003" or .004" interference fit in the links.
Your tracks will have a solid pin if the track chains have been replaced after the late 1950's/early 1960's. Here are the pages from the manual, detailing the two early types of master pin design and plug removal.
Page 154 ..
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Page 155 ..
http://i48.tinypic.com/33dh3qa.jpg
Page 156 ..
http://i48.tinypic.com/dh6fea.jpg
Cat suggest moving the master pin to the front of the tractor, and using the front idler as support. This is a matter of personal choice, or ease of access. My personal choice is always the sprocket, as Gemdozer suggested. The sprocket offers more solid support when hitting.
Here is my method, that I have used for 45 years, and which always works for me.
You locate the master pin, and back up until the sprocket is approximately at knee height, or a little lower. Place a hardwood block on end against the grouser near the sprocket. Back up until the track is firmly lodged against the block, and the sprocket teeth are solid against the bushing. Lock the brakes.
Slacken the track right off by unscrewing the track adjuster or by releasing the pressure in the hydraulic adjuster, if fitted. Make sure the front idler moves fully rearward. If the idler is sticking in its guides, move the tractor forward and place a pin in the top of the sprocket, then back up until the idler is pulled right back. Reposition the tractor against the block again, as above, if you have to do this.
Remove the plug/plugs as shown in the manual pages, if the master pin has a plug or plugs. If there is no indication of plug or plugs, and only a dimple is showing, then you have the solid master pin. It's not critical that the shoe be removed. Shoe removal helps with access .. but the shoe, when bolted up, helps hold the links firmly.
Acquire or fabricate a steel drift, just slightly smaller diameter than the master pin. Attach an L-shaped handle to it. Heavy wire rope welded to the drift makes a good shockproof handle. It's a good idea to chamfer the ends of the drift to avoid metal spalling and chipping. Mild steel is satisfactory for a drift .. but I found that old truck axles are best. A small 45° chamfer with the gas axe on the drift softens the metal and helps prevent chipping.
Now for the important part. It is CRUCIAL that you support the track link from the rear to prevent the track chain from bucking, and thus absorbing all your hitting impact. Support the rear link with a very heavy long bar, a bottle jack supported from the drawbar or a solid part of the final drive housing, or just hardwood blocks driven into the gap between the link and the tractor rear housing.
Lube the master pin and link area with your favorite panther pee (penetrant). Select your finest 14 lb or 20 lb sledgehammer (depending on your size and enthusiasm - I'm only a little guy, and a 14 lb'er is plenty for me .. 😄 ). Get an acquaintance to hold the drift.
WEAR SAFETY EQUIPMENT .. safety glasses, face shield if so inclined, and some leather protection for vital body organs. Flying steel chips are no respecter of a persons vital organs. Start hitting the master pin with seriously accurate hits. Accurate hitting minimizes steel chipping and makes the pin really move. If the drift shows signs of serious belling over, gas-axe the overhang, and chamfer the edge again.
The master pin should commence to move from the first hit. If it doesn't move after 5 or 6 hits, you may need to consider warming the links with the gas axe. Use a large rosebud and re-commence hammering the pin before the heat soaks into the pin too much.
The master pin has a center section that is reduced in diameter, for link clearance ..so you only need to move the section of pin that is the width of the link, for it to suddenly shoot in several inches. Then you need to hammer it through the rear link, where the clearance is reduced to interference fit again. Good luck, let us know how you get on.