take a look at this pic...it might help.....
https://www.dropbox.com/s/sbp82qvwo4m1l ... 0marks.jpgThis is exactly what mine look like and is from the OMC shop manual.
About the shifting, if it shifts stiff into reverse, then you may have a cable adjustment issue, or the bellcrank in the pivot housing might be getting sticky and has water deposits built up behind it. The drive has a gasket between the upper gear housing and the pivot housing. It doesn't always seal perfectly (you are supposed to coat both sides with OMC gasket sealer). If it doesn't you can get water in the area behind the bellcrank and that can leave deposits and crud that restrict its travel. I take the drive off each seaon and pack that area with OMC triple guard grease. That has more or less solved that issue. For a Cobra to shift properly you must:
1) get the idle down to 600
2) have a good shift cable with less than 2.5 lbs of drag
3) have the cable set up properly using the special OMC tools or similar, and shift rod height must be correct too
4) Clean and lubed bellcrank
5) ESA system must be operational
6) remote shifter cable must be adjusted at the engine bellcrank
7) remote control should not have slop and wear
If all these things are attended to yes the Cobra will shift with 2 fingers and yes cone clutch fans it shifts as smooth as a Volvo, if set up right. Makes an Alpha seem like a bucket of bolts....