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If it makes you feel any better "We've all been there", it's very disheartening to have that happen at any time but, especially when you get your 1st boat. First thing to remember is that "Anything can be fixed", you might want to hunt around for a mechanic that does side work, with this economy, there are plenty, you can save some money by having the mechanic remove the power head, then you take it to the shop to get bored out, and new piston's and ring's, he can re-assemble (this will save "some" money). You may want to try what "CES" suggested, he found a way around it, and he's right, there are plenty of used outboard's out there now. I don't think you would get much more use out of a 25 year old outboard engine, so you would have been looking to re-power in the near future anyway, keep checking w/ dealer's for a trade in too. Do your H.W., keep checking around, and asking around, you'll find what you are looking for if you're persistent on the hunt (ya found a "Whaler" didn't you), Boating has taught me one thing... if you are easily disapponted then you are in the wrong hobby, we all have had a boating problem that has knocked us out for the remainder of the season ( I lost the 1st half of this season), your boat will be in much "BETTER" shape next year..."NEVER GIVE UP THE SHIP" ! A sad story would be if someone got hurt, or loss of life, you're still breathing, and you still have the "Whaler", so ya doin "O.K."
mw