Running this engine for the first time I noticed some gray gook dripping out of the weep hole by the top fill plug for the lower unit....what does this indicate? gear lube and water mixed?
Those weep holes are meant for water to drain out after use so that it doesn't freeze inside of there during the winter. What you are seeing is unburnt fuel/oil that is mixing with the water and draining out. Perfectly normal, though a bit messy.
