Re: What to paint the lower unit of outboard with?
Zinc Chromate is usually greenish. You only need a light dusting of the stuff and really only on the bare aluminum. I kinda disagree with my esteemed colleague GT100000 above on the stripping it down to bare aluminum. I'd just sand it thoroughly and feather out any chipped spots (unless the existing paint job is a total mess with cracking and peeling). I was able to find zinc chromate by Duplicolor at Pep-Boys pretty reasonably in a rattle can.
I did forget to add that stripping all the way down to bare metal was assuming { and we all know what assuming can make out of us...

} that the previous paint job was totally carpped...
EZ is absolutely correct, if the paint that is left on there is well adhered and not in terrible condition, you can just feather out the surface and apply a light dusting of the Zinc Chromate Primer to just the bare aluminum surfaces...
I will add that my personal preference is to use a good primer over the entire prepped surface to seal everything underneath and give a solid color foundation for your top coat...a good filler type primer can also be used to help fill any minor imperfections, sand and topcoat...