Earlier quoted context omitted.
Other English speakers I know complain about our orthography: bought, caught, draught, etc. But, yet, here we are with a “word” pronounced “of” and spelled “‘ve”! Now that’s awful orthography!
It's not pronounced "of", it's more like "ev", exactly like the contraction of words it's made up of. Would have.
That's when I gave up. There are a million other reasons to love my wife, and her proper use of 'would've' wasn't one of them to begin with :)