My previous response was about the flywheel cover which so call a bell housing which is a carry over from the automotive world. Yes as the others have stated the transom assembly bell housing can wear out from corrosion but it depends on how salty the water is as well as how well it it is maintained with paint. jp provided the areas to inspect.
Note all components of the transom assembly are subject to corrosion and will require replacement at sometime.
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1997 Silverton 362, 7.4 Crusaders
1997 2400 SCR, 5.7 Vortec / Bravo 2
Mike
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