I did this just a month ago. Wish I had read this discussion first! I ended up removing or loosening all of the injector line clamps. I then disconnected the lines closest to the thermostat housing, I think they went to cylinders 5 & 6 and the line that goes to the manifold cold start valve. That gave me enough room to get a large screw driver into the slotted bolt on the thermostat. I assume it was slotted because I'm not the first one to do this on this car. I used an open end wrench on the square shaft of the screw driver while bearing all of my weight down on the screw. Fortunately, she broke free (instead of just breaking).
Now I didn't know about the little hole in the thermostat, so if it's facing front it's only by accident. I did have a duce of a time bleeding the air bubbles which I do by loosening the banjo fitting on the front of the thermostat housing. I always know when I have a problem because the idle does not change when the engine heats up.
The new thermostat, now that I got it working, solved my problem. It wasn't the worst thing that I have ever done but I'm not too excited about the prospect of doing it all again. How important, now that I got it working do you think it is to get the small hole facing toward the front?
Chuck Bartlett
1969 Signal Red 4 Speed