I remember those days!
Your post reminded me of where I was on the learning curve 1-1/2 years ago when I purchased my Cat 30. You won't believe how much you are about to learn. The stuffing box is on all in-board engines and provides a mechanism for running the prop shaft through the hull. It prevents too much water from entering the boat and lubricates the shaft to prevent excess heat build-up. The stuffing box can be tightened to reduce the amount of the drip. When functing normally, it should drip 2 - 4 times per minute. If it drips more, you may want to tighten the large nut and see if that helps. If not, you may need to repack the box preferably during your next haul-out.You will learn that there is dripless packing for the stuffing box. I have it. There is no drip when the shaft is not turning and some drip when it is. There is also a dripless stuffing box that you can purchase. Most who have it, like it. I don't have one because, I understand that if they fail, you are in trouble. There is nothing that can go wrong with a regular packed stuffing box that can't be temporarily cured by shoving a rag or old t-shirt in it. Good luck! Enjoy your new boat. I'm sure you will love it.Eric Ludin~Tilde~ 83 trbs #3305St. Petersburg