I did exactly the same thing.
I removed my "dripless" and replaced with the old stuffing box, installed the new GORE type flax and have been dripless for alot less money. My "dripless" started leaking and it took me six months to get scheduled to pull boat so that I could replace. Now if I have a problem I can fix it in the water, even replace all the flax. I would use the money to install "Driveshaft Saver" which will solve alot more problems than a dripless box. My humble opinion, of course.