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i just found out the hard way that OMC had a manufacturing defect on 150 and 175 from 1992 thru 1999. The casting defect caused a weak point somewhere around the number 1 cylinder and causes water to finds it way into the motor. this is bad. OMC went out of business so no recalls. the shop in TN told me that they have repaired over 1000 of these blocks and that if you have one it will leak some where along the line. just a word to the wise if you plan to rebuild one of these motors. if you do not fix the weak spot the motor will leak again even after a rebuild.
the 1000 block figure was give by Martec machining in TN. he says that they have repaired this many blocks over the past 10 years and so far every shop i have spoken with know of this issue and all talk about a service notice sent out about 10 years ago. all i know at this point is that the 150, 175 blocks from 1992 to 1999 have this casting issue. it is repairable but expensive.