1981 was the last time I was inside a 235 or 261. Didn't remember having to pull the cam to get the crank out at the time. I remember there were places in the cam to allow the counter weights on the crank to clear.
So maybe pulling the crank isn't such an easy job after all. Oh well, I've been wrong before. I'll be wrong again on something. My bet is my wife finds that one.
Still, I think I would rather pull the crank if it is good, rather than destroy it. Even if it has a bad journal it can be fixed.
If the engine really is trash, and the only thing really needed is the bell housing, cut the crank as suggested.