Should have added that the stuffing box will have to be repacked every few years but it's not hard to do. Transmission is no problem usually. Excellent owner's site for Catalina 27 as well. I'd trade outboard maintenance for diesel any day. See the two maintenance links I posted below.
Brian
Changing A Raw Water Pump Impeller Photo Gallery by Compass Marine at pbase.com
Re-Packing A Traditional Stuffing Box Photo Gallery by Compass Marine at pbase.com