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Hey Bloo - Actually that seems pretty reasonable if it includes all the parts and a warranty.John has a good idea, but then you're talking trim pump,cylinders,transom assy, new cutout for transom.Could be expensive.
In the bargain news there is a 79 OMC completely rebuilt with paperwork -860-568 7991 - no price. And a guy with 4 OMC outdrives 203-264-0021 - no prices. You might want to check them out - it's easy to just bolt on a new leg.
Also there's a guy in Milford Ct, Jay's Outdrives who does nothing but rebuild outdrives and sell them - I bought an Alpha 1 form him once.He does real good work with a warranty.Don't know if he'll have an old OMC 203-878-9868.
Good luck, sharp looking boat!
Bill
P.S. Don't even think of doing it yourself, unless you're way better than me- those things are tricky, you have to get the gear shimming just right or it will self destruct.Like with my big fat a$$ brother skiing on the first day of vacation self destruct - If ya know what I mean!
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