You're in salt water, Long Island, so once a year pull the drive at the end of the season and check the bellows for water, gimble for smoothness, ujoints for loosness and play, and also make sure the input shaft seal is not leaking gear oil in the bellows. The driveshaft splines have to be greased as well as the gimble and the ujoints. On my OMC Cobra drive I clean out the area around the bellcrank and grease all pivot points on the shift linkage with OMC triple guard grease. I also change the gear oil and check for water, if so I get it re-sealed. In the spring I put in a new impeller (easy on a Cobra, right in the aft end of the upper unit). Finally change the anodes as well. This is not major work but required maintenance yearly if you read a Merc, OMC or Volvo manual.
The main problem with I/Os is a lack of maintenance will cost you. Salt water that leaked into the bellows and lays there all winter will rust the gimble, driveshaft (and then cause the input seal to leak) and ujoints. If you never have it removed, it is possible for the driveshaft to corrode into the coupler. Then the drive will not come off.
I built a drive stand I can have the drive off in about 15 min.