Here's the total cost and part number breakdown:
From Small Engine Warehouse:
P/N 386447-0463 - 23HP Vanguard, 1-1/8" x 3" shaft - $1449 + $84 S&H
P/N MUF0460 - 21-23HP Vanguard Muffler - $89
From XtremeOPE:
P/N 0153 - Ingersoll C47447 equivalent clutch - $300.95 w/free S&H
From the Ingersoll dealer:
P/N C33200 - Clutch washer - $19.25
P/N C48775 - Clutch cup washer - $10.50
From the hardware store:
7/16" x 20 x 1-1/2" clutch bolt and lock washer, M8 flywheel adapter bolts, misc hardware and materials - $10
Grand Total: $1962.70
*My total ended up being more than this after I bought the clutch anti-rotation bracket (P/N C48772, $65) that didn't fit and the flywheel adapter (SEW P/N JD318B-FLY-BV, $89) that I modified to work. The clutch bracket could be fabricated for a few bucks if you have a welder and a cutoff wheel and any local machinist could make the crank pilot and flywheel adapter for less than $100 in labor and material.
Summary of modifications required:
Machine a crank pilot button and flywheel adapter.
Remove the blower housing, install the crank pilot and flywheel adapter, and reassemble.
Install the CW clutch with the pulley against the crankcase.
Slot the debris screen and cutout a center hole for the pump coupler.
Drill new engine mounting holes in the frame.
Fabricate a clutch anti-rotation bracket and secure to the bottom of the frame rail through the front engine mounting bolts (requires two longer bolts).
Raise the hood 1-1/4" to clear the engine air cleaner housing.
Remove the hood side shields and discard.
Clearance the hood heat shield until it clears the air cleaner housing and engine lifting bracket and fabricate ears to support the shield from the upper studs inside the hood.
Modify the muffler outlet per your liking. If you can get the exhaust out without cutting the hood, you have my respect.
Fabricate a cowl extension from the front of the hydraulic tank to the engine blower housing to maintain airflow through the hydraulic oil cooler.
In conclusion:
You could save money by buying this engine with the 1-29/32" shaft and using your original 4016 clutch, eliminating the need to fabricate a flywheel adapter, an anti-rotation bracket, buying a new CW clutch, and drilling new holes in the frame but this will require swapping your old flywheel and blower housing to the new engine. I chose not to do this because Briggs and Stratton made changes to the flywheel, cooling fan, and blower housing to prevent the cylinder head overheating issues that these engines are known to have. The CW clutch is the whole key to making this swap possible and keeping the new engine's cooling updates by allowing the engine to shift forward in the frame while keeping the original belt alignment. This makes room at the flywheel end for the deeper blower housing to clear the hydraulic pump arm and hydraulic tank. The flywheel adapter just takes up the extra distance between the pump coupler face and flywheel face after moving the engine forward.