If the end of the crankshaft is drilled and tapped, use an installation tool. There is no way pounding on the end of the crank will help thrust settings. If it is drilled I would also recommend using a Stage8 bolt kit to help keep the balancer on tight.
Cutting the end off the balancer or grooving the timing gear is to get the balancer closer to the front of the motor and further on to the crank. It also helps make pulley alignment a little easier. I tend to like cutting the end off the balancer as it is extremely easy for any machine shop and hopefully the balancer will out last your timing gears.
