Dripless Packing Compound
Jim,About 6 seasons ago, I had the same concerns and went with the Dripless Compound System that is available at West Marine, Etc. It's a little pricy (about $55 or $60) but I felt the results were worth it. It's just a small plastic 'jar' about the size of a 35mm film case. It has a green crumbly putty compound with some teflon in it.The process is to remove all of the old Flax packing rings (Usually 3) and then start by putting in one new Flax Packing ring, followed by an equivelent size 'ring' of the green dripless coumpound, followed by another new Flax Packing ring. Then just put in the packing gland plastic ring (a smooth bearing surface for the packing nut) and then the packing nut and tighten it down hand tight followed by about 1/4 turn with a packing nut wrench. If you put in too much green putty coumpound, you will have trouble getting the packing nut threads tp engage. (Been thete - Done that). After wards try rotating the shaft at the coupling by hand (with shift in neutral) and you should be able to turn it ok. If too loose, retighten the packing nut a little more and if too tight just loosen the packing nut a little. When satisfied, place the 'locking wire' on the nut to prevent it from backing out on normal use.I was very happy with the results an run a dry bilge (until I do something dumb and spill some fluids into it).I redid the whole packing again at the start of last season with the same good results.