71 Seafari, Mercruiser 140. Current motor block indicates it was manufactured in 1986/7, but has all 1971 electrical and ignition stuff. Original transom group and original M/R outdrive. Installed all new seals last fall, all new bellows, new lower cable, new hoses, new manifold and new exhaust riser/elbow.
We live in Florida, so "winterizing" is unnecessary. HOWEVER, after many years in the marine industry, I have an annual "maintenance list" for a sterndrive.
JANUARY 1
Remove drive
Change water pump impeller, inspect pump housing and wear plate.
Remove propeller
Inspect seals, bellows, u-joint, drive shaft
Lubricate, lubricate, lubricate
New outdrive gaskets and o-rings (never re-use)
Change Lower unit oil.
Clean and re-grease prop shaft
I would say that with proper flushing, raw water cooled manifold, risers/elbows, and t-stat housings are good for 6-7 years. But ya' gotta flush the motor for a period of time AFTER it gets to full operating temperature. Salt-away isn't enough, nor is 5 minutes running at idle with a cool motor. But eventually, these pieces WILL need to be replaced
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Common Sense is learning from your mistakes. Wisdom is learning from the other guy's mistakes.
Fr. Frank says:
Jesus liked fishing, too. He even walked on water to get to the boat!
Currently without a SeaCraft 
(2) Pompano 12' fishing kayaks
'73 Cobia 18' prototype "Casting Skiff", 70hp Mercury
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