I agree with Skip, a small amount of metal attached to the magnet is normal. Both of my lower units let in some water. When I check them, the first bit of fluid that comes out is a white color, but quickly returns to solid green. Due to the water intrusion, I've been using the HP gear lube for about two seasons and so far so good. I plan on pulling the lower units off this spring when I do the thermostats and getting the lower unit pressure tested.
I use Larry's brother, Denny at South Shore Tackle and Service on Mountain Road, behind Prince's Tire. He's not necessarily a mobile service but he will work with you. He has actually come to my house and pulled my lower units off and taken them back to his shop to service them. If you do need a new lower unit, SEI, is making them for practically cheaper than they can be rebuilt. Again, check with Denny. He installed one for me about 4 or 5 years ago and no problems. Prior to that I had one rebuilt by a mobile guy. It blew up about 30 days later. Denny pulled it apart and found that the pinon nut(I think) was not installed and torqued properly, so it backed out while doing 40 mph across the bay.
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