That locking mechanism...

[garyinco]

What steps do you take to remove this pin. Do I need to remove the big delrin button cap?

 

[bushmaster]

What steps do you take to remove this pin. Do I need to remove the big delrin button cap?

Yes because the button must drop out into the battery area.
Remove the battery, then take out the small Phillips screw that holds the black insert in place. Let the insert drop down and rest against the partition. You should then be able to grab the firing pin arm and rotate it toward you enough to allow the button to drop through the hole. After the button is out, use some small nail or such to push the pin out enough that you can grasp it with a pliers and pull it out. Buff out any rough surfaces around the pin hole with sand paper.
That's it! Reassemble and you're done.

Edit: Its good to have some needle-nose pliers to manipulate the button out and back in to the original hole because its kind of awkward the first time you do it. Take your time and you'll be fine. Also, be sure and shine up the firing surface of your firing pin while its easy to do.

 

[garyinco]

Yes because the button must drop out into the battery area.
Remove the battery, then take out the small Phillips screw that holds the black insert in place. Let the insert drop down and rest against the partition. You should then be able to grab the firing pin arm and rotate it toward you enough to allow the button to drop through the hole. After the button is out, use some small nail or such to push the pin out enough that you can grasp it with a pliers and pull it out. Buff out any rough surfaces around the pin hole with sand paper.
That's it! Reassemble and you're done.

Edit: Its good to have some needle-nose pliers to manipulate the button out and back in to the original hole because its kind of awkward the first time you do it. Take your time and you'll be fine. Also, be sure and shine up the firing surface of your firing pin while its easy to do.

Awesome. Thanks!

 

[bushmaster]

Awesome. Thanks!

My pleasure.

 

[Northernshrink]

Just go easy when reassembling be sure the screw is straight when putting the Derlin cover back on and don't over tighten as it can easily strip the thread on the aluminum.