I just bought this boat on ebay. Cobra Sterndrive on a 1989 4.3L motor. The guy said it was winterized but when I got it home and pulled a couple of pet cocks on the engine block, pure water drained out so I drained everything, took off hoses and poured rv antifreeze everywhere I could find. Drained sterndrive gear oils and refilled. (upper and lower, no water in oil thankfully) Next is where my problem began: I removed what looked like a drain plug from the side cover (opposite side from oil drain/fills) of the upper gear housing looking for more trapped water and sure enough water came out there too. When I went to put the plug back in, I noticed that the threaded block inside of the housing was loose and no longer lined up with the opening. It looks like it was part of the casting of the gear housing. I can line it back up with the hole and move it around so that I can see al sides and it basically looks like some kind of tab that broke off from the casting. Is this what it appears to be or something more? I thought I would try to line it up with the hole using some adhesive to hold it in place until I can thread the plug back into it but not sure if there's something more going on. Please help!! Dave