I have a 1988 350 merc w/ an Alpha 1 outdrive. I keep the boat in fresh water in a shallow well. I had a leak come in through the bellows or u-joint shaft (boot) overnight and water came into bilge up to the bottom of the heads. Starter was submerged and half of alternator. After pumping out water and getting ready to take boat accross the river to put on trailer (did all in a hurry because my bilge pump quit) fired up engine and killed very quickly because milky oil was being pumped out of the valve cover breather into the air filter! Then towed boat to launch and put on trailer. I have not had a chance to drain oil pan and pull valve covers to see how much fluid is in the system. The only thing I can think of is water entered into pan from dipstick tube. <br />Sorry for lengthy question but what kind of mess do I have on my hands? What should I attack first? Thanks for any info...