DOWN, and here is why-
DOWN, and here is why-
You should store it down if it will be sitting more than a day or two. If on a trailer and you need ground clearence while moving, then up for obvious reasons.
But, store it down- this reduces the tension/pressure on the drive u-joint bellows and shift cable. Doing this, I have gotten bellows to last 10-15 years. If the boat is in the water, you should do the same- a leaking bellows might sink your boat if your bilge pump fails. Also, while in the water, when in the down position much less of the bellows is exposed to water animals, specifically muskrats which seem to like chewing on bellows. Newer bellows are reportedly made with some anti-animal poison in the rubber to discourage muskrats etc., but there might be dumb muskrats who learn slower than others
Also, storing it down keeps water from accumulating in the lower gearcase exhaust passages- if this freezes it can burst the passages in the gearcase casting (ask me how I know).
As for removing it for the winter, this is a good idea because outdrives are stolen all the time. However, if you want to leave the outdrive on the boat, I would suggest getting an outdrive lock from McGard. These locks are a bit more sophisticated than your regular wheel locks, and are darn near impossible to remove without the key- forget those "locking lug nut removal tools" from places like Snap-On (I have one when I lost a lock key from my boat trailer mag wheels) - those tools will not work on the Stern Drive lock due to its rotating collar design. They run about $20-25 if I recall.