is there a special tool to install/remove bellows? I would obviously buy the alignment tool.
You guys are indicating that it is not necessarily the case that the u joint would automatically need to be replaced? would assume that i can grease it and move on unless it looks bad
No special tool for the Volvo except the hinge pin wrench (1/2" allen I think same as on the OMC Cobra). You should be:
following the maintenance manual and removing the drive at the end of the year. Then you can inspect the bellows for cracks and water. I have had them last a really long time, but I'm not telling you not to replace them as is recommended in the manual. The bellows job if you do it yourself is 50-70 bucks for an OE bellows. If you have a leak in the bellows and you neglect to check for that, then you get to replace the gimble, maybe replace the u joints and drive shaft because for some odd reason, Volvo decreed that you shouldn't be able to replace U joints separately, you need to buy a whole new shaft and pay to have it installed.
If you want a low maintenance marine power system you do not want a sterndrive or I/O. Everyone who knows boats knows they need the MOST maintenance to remain reliable. If you want low maintenance sell the I/O and buy a new or nearly new 4 stroke outboard. They are trouble free about 10 years here in salt water.