To update this thread, it was just a low voltage issue. I still haven't repaired this particular unit, as the motor is still working but the main tilt cylinder is stuck in place. My best guess at this point is that the seals went bad and water leaked in. When I opened the relief valve fully, I got some really nasty gunk that came out and as dark as used motor oil. Not to mention quite a bit of air. I now have clean ATF fluid and no air, but that didn't solve the issue, which lead me to above.
Now, having said that, my thought is to just replace the whole hydraulic mechanism with the replacement I picked up. At first I thought of just switching the whole bracket, but the manual seems to be pretty clear on how to remove the tilt/trim unit by itself and it's all together, basically, from the looks of it, 8 bolts total plus the wiring which seems pretty basic. I'll update the thread once I get it all fixed.
As a side note; anyone know how hard/easy it is to rebuild these things? I have the complete 2nd bracket but figured if the O-rings can still be found, since I know the motor works, why not give it a shot when I'm bored. That way, I'll still have a working backup since these Sea Drives are obsolete.