Re: 1986 Mercruiser 165 same as 1973 MC 165 Drive?
No, the 1973 is called a MC-1, the 1986 is called an Alpha 1 Gen 1. They physically interchange with no issues, you just need to make certain to use a alpha one gasket.
The 1973 165HP is an inline 6 and will have a 1.65:1 gear set.
The 1986 165HP is a 470 4cyl inline and will have a 1.84:1 gear set.
They are a direct bolt on swap either way you go, but the gears will be mismatched. The gears that determine the ratio are in the UPPER unit. The lower units do not matter in gearing.
The mismatch in gears can be corrected by changing props, but it will never be "optimal" or perfect. But will certainly keep you on the water having fun until you can get the proper ratio. I would think if you increase one prop pitch you would be ok. Like 19 pitch to 20.