The Mercruiser oil is pretty expensive but it does hold its viscosity well. I've done several oil analyses with Blackstone Labs and that's what I found. If you don't want to pay the price of the Merc oil you can use 15w/40, either Chevron Delo or Shell Rotella, it is a good bit cheaper. For the lower unit, I have always used the Merc High Performance Gear Lube, again it's not cheap but no failures over 20+ years of salt water use. As far as parts for the Cobra drives, most parts are available, I have a bunch of spare parts I bought thinking I'd might need them but in reality what I replace mostly is impellers, fuel filters, spark plugs, and I keep on hand a bunch of the plastic washers for the lower unit fill/drain plugs.
_________________ 88 Four Winns 200 Horizon 4.3 OMC Cobra-4bbl 2002 Walker Bay 10/2012 Suzuki 2.5 2008 Walker Bay 8
1998 Jeep Grand Cherokee 4.0/Selectrac 2007 Jeep Grand Cherokee 5.7 Hemi/Quadradrive II
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