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If you are going to do this right, you need to start over with a boat that needs new twins or triples and is too big for your current truck to pull. :)

I personally use whatever they call the "Mercury Hi Perf gear oil." I think they renamed it or repackaged it or something. The name may have changed, I can't recall. I have always used it with good...

I was just thinking of things I would test or replace no matter what, even if a boat had been well maintained like the Scout appears. The manifolds are tested off of the boat. For that kind of...

Pressure test the exhaust manifolds and check the riser gaskets. Split the alpha and do the gaskets and impeller. The rest I would play by ear with an SBC.

As for your paint question elsewhere......

You won't know for a while.
In the fullness of time, all will be revealed. My Apache only cost me about 3-4 times what I paid for it.
Best of luck.