I have replace the impeller on the Cobra a number of times. It is a very easy job, there is a plastic cover at the rear of the upper unit. You remove the 3 bolts holding it to the upper unit and the cover comes off. The impeller housing (3 bolts) is right there. Normally you can replace the impeller, housing gasket, wear plate and wear plate gasket. The housing has a steel liner in it, if this shifts it can block off the water ports, so sometimes you have to remove it and re-install it with some OMC gasket sealer to hold it in place. Gasket sealer should be used on the wear plate gasket, the housing gasket (which is like an o-ring) and the housing bolts. The main thing is to make sure the housing gasket does not get out of place when installing it.
The nice thing about the Cobra impeller is that you don't have to split the upper and lower drive housings like you do with an Alpha drive....
_________________ 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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