1. Should I replace the reverse gear while I'm at it?
2. The thrust bearing seat and the lower pinion bearing wear surface on the vertical driveshaft are slightly pitted and worn.
Must I replace the driveshaft?
3. Must I buy the OMC special tool for setting up the drive shaft bearings and shims?
4. Is there any place to get a price break on the parts?
5. Never having worked on an outboard before, how foolish am I to do this myself?
Thanks for the help!
From your description sounds to me like you need a complete gear set.
You probably can tolerate some pits on driveshaft as long as the bearing surface is smooth.
I am pretty sure that your local NAPA[right!!auto parts!]dealer can order the gears for you at a good savings,they have lots of marine parts if they know how to look them up.
Another option is ask some area dealers if they sell used parts or know anyone who does.
The going price around here is usually half of list.
A good looking clean gear[used] is about as good as a shiny new one.
If you do attempt to set-up a gearcase, don't even try it without the OMC tool.
I would reccommend getting every thing ready and asking a service shop to set it up for you,probably one hour labor around $40.00.
Those parts cost too much to take a chance.
Good Luck, WWW