You see Major, we're a nice bunch really.
Now I'm sure you know your phonics.
Correct me if I'm wrong, but isn't the shortened, unstressed "have" in "would've" pronounced exactly the same as the unstressed "of" in the United States of America?"
So to say that you heard someone on the telly-box say "of" instead of "'ve" is impossible.
It's like the word "can" (I'm not going to use phonic symbols, because some people might not know them and I can't be arsed to find all the symbols).
I can swim = [cun]
I can't swim = [carnt]
Can you swim? [cun]
Yes, I can = [can] - the only time "can" is pronounced as [can]
No, I can't = [carn't]
If anyone doesn't believe me, just try saying each aloud. 8)
PS Soryy four any speling misteaks, but wiv this stratejaket on I hav to tipe wiv my nose.
PPS I know what Major, I'll make a promise that if you can find, in any Terry Pratchett book (non-diologue), an example of where TP writes "of" instead of "have", I'll donate 10 quid to Alzheimers. I don' believe he has ever done it. I will of course need a page number and be able to verify it myself. 8)