I've read a lot about the Stringer and can't decide if it's a AWESOME drive or better suited as a boat anchor.
The honest truth about a Stringer - coming from a guy who really likes his - is you have to decide you're "up" for one. They were a little over thought, and as such can be kinda' finicky. You need to be okay with spending time workin' on it and hunting parts every now and again.
Otherwise, there are some very cool things about the Stringer: they're quieter (IMHO) than a Merc, and if you've got True-Course steering it's a very cool steering system. I love the power delivery to the Stringers as opposed to the transom, but that's probably a minimal bit.
Good and bad - most of all, just old and obsolete.
I keep seeing "OMC outdrive conversion to Mercruiser". Must mean it's a popular conversion on Google.
There used to be a few kits around so that you didn't have to rebuild your transom. I think they've largely gone the way of the dodo.
I'll probably have to rebuild my transom, as much if my boat is rotted away.
First, check to see if your transom is a solid transom or just a hull shell. Since the Stringer doesn't marry up to the actual transom, you may not need to worry about it doesn't leak. The Stringer passes through the transom, as opposed to a Merc or Volvo that pushes on the transom.
How much work is it to convert other than the new keyhole in the transom?
Spend a little time over in the restoration forums. Rebuilding a Transom is no small project. The boat winds up tore up from the floor up
And if you've gotta' rebuild it, I HIGHLY recommend making the switch to a different system.
Will the mercruiser bolt up easily to my OMC 305 or will I need another motor.
I'm not sure: someone else would know better than I would. But I would think your best bet would be to find a donor boat with a complete Merc or Volvo set in it and just swap the whole thing.
... again, all of this considering that you can probably find a "water ready" boat with a different drive cheaper than you can rehab this one.