Thanks for the offer, SkiDog, but I'm going to hold out on that for now. We took it out yesterday to test it, and the water was down about 2 feet at the regular beach landing so we didn't even try putting it in there since we only have 2wd vehicles... Luckily they have a landing on the other side of the lake that had concrete down far enough.
Right when we put it in the water we found a major leak, which would more than likely be the culprit for water getting into the tranny. The flexible rubber adapter on the prop shaft was torn, so water was spraying in. My dad just tied a towel around it because we really wanted to test everything before winter. Took it out for a spin, which wasn't very long since it was a bit nippy out. My dad felt some excessive vibration, and then saw the prop shaft was bent, which is probably how the rubber hose got torn. The prop is dinged up, so it had obviously been hit, which bent the shaft.
So, we started pulling it out, but now have to figure out how to get the nut on the adapter flange that holds the shaft off. What do y'all suggest, and what size is the nut? We'd also be interested in a spare powerslot prop if anyone needs to get rid of one.