Jeff:
Do your self a big favor and order the cable right from you Four Winns dealer. I have the same year 268 Vista with the same engine/drive setup and single OMC binnacle and the "supposed" Teleflex replacement cable will not work. Even though it is the same overall length, the cable "throw or travel distance" is about a 1/4" longer that the original and you will have gear engagement and throttle engagement issues. Trust me, last spring I replaced mine with the Teleflex and no matter how much adjustment I tried (and ther isn't much), I could not get the cable to engage the drive and throttle properly. I have the never-used Teleflex cable in my garage (couldn't return it - special order from the Volvo Penta dealer) and I wouuld give it to you but I know it won't work. Even my Four Winns dealer was skeptical but when he ordererd it for me and we compared it to the Teleflex, there was a noticeable difference in the cable travel. The cable FW sells is an OMC cable so it is directly compatible with the OMC binnacle. If you don't use the OMC cable, you will have to change the binnacle ($$$). If you go to the FW website and go to Parts Catalogs, you can find the cable listed under the "Blank Engine" category. It is called "Cable, Control, OMC, etc. This link may work:
http://www.fourwinns.net/partbook/basem ... l=268V-D00Just measure your current cable because it looks like they had a 17' and 18' cable for this year. I think mine was 18" but that doesn't mean yours was the same length. I believe the cable was about $60 (well worth the aggravation of trying to figure out why the Teleflex didn't work). I can tell you the new cable made a heck of a difference. More positive shift engagement and smoother throttle advancement.
As far as the oil in the bellows, it could be broken down grease from the "spinning action" of the U-joints and gimbal bearing. The centrifugal force of the spinning can break down the thicker grease into thinner oil especially if it was inferior grease. Good luck and let me know if you need any other info!