With the guidance of previous posts and the help of an old time HD friend, I replaced my stock compensator with an SE compensator ('08 FLHX). With replacing all fluids (oil, primary, tranny), the whole job took about 3 hours. The biggest pia was getting the oil filter off (who ever chaned it before torqued the hell out of it).
The started clunk is gone and it seems to be a little smoother in acceleration. Thanks to everyone who posted advice and pics on how to do this job!

 

I tell you this is a great place and it makes you want to do things on your own even more...the satisfaction is awesome...Congrats man...