Hi Chris - welcome aboard!
Yep, the bellows need replacing regularly. $270 is a bit high, but still cheaper than a Volvo Penta! I buy all my parts from
http://www.marinepartsexpress.com/ I have always found them great to deal with, excellent prices, and quick delivery. They have Merc stuff as well. I would definitely recommend them to all Oz boaters.
How often to replace the bellows? I guess if it is always in the water, every 2 years. If it's trailered and carefully stored out of the water like mine, every 5 years max. Can you replace them yourself? Yes, but you need a trolly / stand arrangement to remove the outdrive as they are quite heavy. There are also a few 'gotchas' for the unwary - for example on mercs the 'o' rings are a big thing. Get them wrong and it will overheat and you have to do the job again! I suspect yours may be original, so definitely due for replacement.
I would think it would take about 4 hours for an experienced operator to do the job, so get a couple of quotes. I have to take mine in and get it done this winter. Bought the bellows (plus lots of other bits like oil and fuel filters) from Marine Parts Express at about 30% of the local VP price. I'll just take mine in to the local boat dealer one day and get the bellows replaced locally and get the gimbal bearing checked, engine alignment checked and unis checked while they are at it.
As they say Chris - you know what BOAT stands for?? Break Open Another Thousand...!
