Well, got my answer and I suppose, more questions. First, I put the boat in the water- I have the bead around the gimbal ring and have the lower unit bagged and taped up everywhere I can see to put tape- know this would not hold or hold long, figured it would get me through the test. Duct tape works pretty good for this. So, put the boat in the water, jump back there and there is so much water coming in..nice thing about this forum is I don't have to face anyone. I did not have the plug in! I did that once probably 30 years ago if not more. Anyway, fixed that and back in the water. I have leaking but not to the extent I had before. So, I pulled the boat up and removed all the tape and such on the out drive and to be honest, hoping I would now see a lot of leaking. from that Y pipe but I did not. I did have a little drip through the connection for the speedo- keep in mind the tube is broken off on the inside and on the out side, I have a screw in the tubing and a wire tie around that so I don't understand why it would be dripping but that is certainly minor in the game.
Backing up a bit, the dripping from the speedo tube was the main reason I pulled the drive and did the bearing and all the bellows. I did not know at the time that's where a little drip was coming from. I did not have huge amounts coming in and even a slow and steady drip can amount to enough water to trip the bilge pump over night. It does add up. I did not have the amount of water coming in that I have now or before at least I put that sealant around the gimbal. Now then, I had a heck of a time getting the bearing out. I broke the mercruiser tool, stripped the threads right off of it. Then, I went to auto zone and used a slide hammer and really whaled on it to finally get the bearing out. I have heard other comment about having to pull the motor to knock a bearing out. Is it possible, and I know anything is possible, is it likely that I bent the gimbal knocking that bearing out? So now, I'm looking at pulling the motor which I don't have a hoist to do myself to get to the gimbal/transom and see what is going on. Not a happy camper here this afternoon....sigh....