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The flex plate also serves as a cushion between the torque converter and the crank. It absorbs shock load during take off and during shifting.
Although this load is not as harsh due to the slight hydrualic cushion in the pump, when compare to the load put out by a manual transmission. It is still quite a lot of force to absorb.
Except for dualmass types, flywheels rely on the springs in the clutch to absorb this shock load.
Without this shock absorbing ability you'd be breaking the small converter bolts off
or stripping the center out of your clutch quite regular.
More than the shock load the plate takes up the assembly differece between the centerline of the crank to the centerline of the conveter/ transmission input/ stator
shaft. That is held in place by the dowels in the engine/ bellhousing. This alignment is not perfect sometimes running out nearly .010 and the connection cannot be ridgid. If the unit constantly breaks plates misalignment is the cause.