Re: Mercruiser 165 6 Cyl. Good, Bad, Okay?
I had a 165 for about 8 years and yes, they are quite reliable. The only thing to make sure is that the manifold water reversing kit is installed. If it doesn't then put it on before the manifold gets cracked, particularly if you plan on doing any water sports (skiing, tubing ect). Another thing I would recommend is the put electronic ignition on it. Points were ok in their day, but.... go electronic. And last but by no means least, and this applies to all I/Os, is the exhaust elbow. They have a lifespan of about 5-7 years and when they fail, they fill cylinders with water

Replace it when you buy the boat, it's cheap insurance, and go genuine, the after-market ones last about half the time.
Chris...........