Re: Drive shaft Merc 500
Mario, if it's not completely eaten away in the seal area, you might be able to press some Speedi-Sleeves over the damaged area and restore your driveshaft without having to take the lower unit apart.
The stainless wear sleeve taps down the shaft and sits right over the seal area to give a new wear surface for the seal to ride on. You'd typically seal it to the driveshaft with some Loctite or, if a lot of wear, even J-B Weld or Marine Tex.
Otherwise, if you know a real good machinist in your area, have him build the seal area up with stainless weld, turn it down to original size, and straighten the shaft.
Or try eBay for a shaft, there should be something on there you could use.
As a last alternative, a later model lower unit would have the stainless shaft or stainless seal area and would be much less likely to ever have pitting problems such as the old mild steel shafts do.
HTH & G'luck........ed