If the drive is pitted, you can spend a little quality time with large quantities of JB weld to fill the pits (like Bondo) after you get down to bare metal. Works great and will look like new after sanding and painting.
I agree with everyone else on the advice to use magnesium anodes. Get in the water with a stainless steel wire brush and clean them up now and then too, once they get a coating of corrosion, they become much less effective.
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