For the square plug, just get an adjustable wrench, don't need a socket really. Spray penetrationg oil first. The 4.3 and all the V8s all have a plug on each side of the block low down, you gotta find them.
Here's a pic of my old 4.3 the plug is in front of the starter......see the 90* drain fitting, they used this when the old big starters were in the way, not needed with the new smaller starters, that's the driver's side (starboard), on the other side (second pic) you can't see it (too dark) but its between the motor mount and the oil filter. That pic is from when I did my top end overhaul with new cyl heads etc.
On your engine the other thing I'd do is point the raw water intake hose down in the bilge to drain it and then hold it up and fill with -100 marine AF to push water out of the hose, and water passages in the transom mount and drive till the AF comes out the outdrive water intakes. Put the drive down first. This will put AF into the impeller housing as well.
To fill the engine with AF:
1) fill manifolds via the feed hoses that are disconnected at the thermostat housing till AF runs out the exhaust (why you MUST use no tox marine AF), then reconnect those hoses
2) to fill engine, reconnect bottom end of the big hose, disconnect top end at 'stat housing. Then fill the engine via the hose till AF spurts out of the stat housing. Then re-connect the hose.
I don't like -50, or -60 in my climate, they get hard at a few degrees over zero, not the best in a cast iron engine. I prefer -100 it stays liquid like to -40--50*. Now AF is optional, in fresh water you probably don't need it, I use it in salt to cut down on corrosion and Merc does say they advise the same.
Remember, to prevent freeze ups you MUST FULLY DRAIN
adding AF is ONLY for corrosion protection
and
NEVER use the suck AF Up the drive kits, they can result in a cracked engine, if the stat does not open fully on a cool fall day.