Here's what worked for me, finally.
1) remove all user serviceable parts from the base - 510 pin, positive post, positive post insulator.
2) wrap duct tape around a pair of vice grips and grab the merlin by the JFC ring (the knurled ring above the JFC ring)
3) place a blunt object slightly larger than the air flow hole over the air flow hole (or air flow tube, I guess -- the threaded pipe looking thing)
4) smack the blunt object firmly with a hammer. maybe twice.
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If successful, the base will explode into these 5 pieces.
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Here is the magic o-ring that all the kids are talking about these days (excuse the grubby fingers please -- was fixing my weed wacker before this).
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And an interesting little nub that acts as the "stopper" for the JFC ring. There's a reciprocal groove in the AFC ring where this goes.
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On thing that is NOT pictured is what appears to be a channel that could possibly hold on oring on the underside of the JFC ring (the one with the visible oring).
After reassembling, the only thing I notice is that the JFC is a little more loose than before and that the draw has tightened up just a bit with the AFC completely closed (still not a super tight draw).
I'd be interested to see if others have an oring in that mystery channel. I measured it (and the one on the inside) but forgot to write them down. I think it was 16ODx1.0 and 18OD x 1.0. I won't even quote myself on that.