HELP!!! Front crank seal???

[Chris_H]

Ok, I went and did it this time. I was out screwing off last night in the Mustang, I know we never do that....I did a burn out, which I have come pretty fond of, and pretty good at lately, and I went back to look at my tire marks. When I got turned around I saw a HUGE puddle righti n the middle of the tire marks. Got out and checked it, and it was oil. Opened the hood thinking it was the line to the blower, no such luck, and it was all over the underside of the hood. So I drove it to where there was lights, total of about 2 miles. After about a mile, the oil pressure gauge started to drop, eventually about to 5 pounds, and about 1/2 mile from where I stopped, the rockers started ticking, and getting pretty loud when I finally got stopped. Had a friend come out and meet me.
To make a long story short, I was looking under the car with a flashlight and it looked like the oil was SPRAYING out from behind the harmonic balancer. Correct me if I am wrong, but does that sound like its just the front crank seal, or whatever that seal is called? And if so, would it be the cause of spraying EVERYWHERE? The underside of the hood was soaked, the radiator had it all over, I mean this was everywhere.
If this is the problem, how hard is it to change the seal? Anything special I need to know, or to do prior to taking it out? I am planning on doing this on Sat, and I have a friend with a lift at the house that I will be using. Please, any input on this is GREATLY appreciated. I need to get it fixed and back on the road. The wife isn't to happy about it!

Chris

[Mach 1]

Front crank seal is easy. I would pull the timing cover and have a good look around. Also check for leaks elsewhere to be sure its not coming from more than one place.