Sounds like the seal on the tilt ram was torn. If it would move without load, but slowly with a load and rapidly leak down, then the only answer was a torn tilt ram seal. It was simply bypassing the fluid internally around the seal and bleeding back off to the reservoir. I found a few on EBAY for $400, but prices range all over the board on those. Also thta looks like the fastrac system, and IIRC they had problems with the drive coupler breaking in the YAMAHA version.
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2011 SUNDANCE B20CCR SKIFF, 2011 YAMAHA 90HP 4 STROKE, 2011 KARAVAN SINGLE AXLE ALUMINUM TRAILER, LOWRANCE ELITE-7 HDI, MINN KOTA RIPTIDE TROLLING MOTOR
2000CC HYDRA-SPORT 225+HP EVINRUDE SOLD 
AND THE PINK JEEP!!!! R.I.P.
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