If it were me I'd pull that harmonic balancer off and trash that whole charging system, water cooled regulator and all. Replace it with a one wire ,side mount, belt drive, external alternator. Just feed it with a fused, switched hot wire and it will solve that problem. As for the leaking cam seals , you can buy a cam seal replacement kit from Mercruiser, comes wih gaskets, seals and all. Just check the surface where the seals ride on the end of the cam and see how bad it is grooved. If it is, you can get a sleeve to repair it. Its really an easy fix. Ive done 3-4, only cost about 40.00. As for the oil pan look on ebay under 470 Mercruiser parts.They usually have some there cheap, the gasket will probley cost more than the pan! Check the web,there alot of good sites to order parts from. They're good motors , you'll get the bugs out. My boat had sat up for about 5 years and it took awhile to get it all straightened out but it was well worth the investment!! Good Luck!
