I have to admit, that is one of the tightest arrangements I have seen for a gland and stern tube. I've got to wonder what it would be like repacking the gland with those clearances. I've never bothered looking at mechanical seals so I don't know what their length would be be compared to a packing gland but I suspect it would be longer, so no help there.
This Drivesaver strikes me as a "Nice to Have" addition to your drive train. Because I spend so much time tinkering with my boat in the winter here, I have considered installing one in the past more for something to do rather than a "must have". I'm afraid in this case, I would forgo the Drivesaver rather than risk compromising either the packing gland or the stern tube. You never know how much torque the packing material is applying to the gland or the stern tube and I'd hate to find out it was too much at the wrong time
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