Gotcha now. I missed the fact that it was an original Alpha One.
The bummer about pre-Gen II drives (up to and including 1990) is that if they overpressure for some reason the pressure has no where to go, and eventually a seal will go allowing fluid out, and later water in.
Merc does stock a lube oil monitor kit that can be retro-fitted to any earlier drives. It connects by a fitting into the vent screw hole and provides the same functionality as the newer drive monitors. You may want to consider adding them for the future.
As far as the failed drive is cincerned it seems suspicious to me that it failed that quickly for no apparent reason.
Was it an OEM new drive or rebuilt?
Since you cannot simply bolt a new gen II leg onto an earlier transom assembly, you are going to be stuck with finding a repalcement Alpha One CR drive. Thumps and bangs from a drive usually mean complete gear failure and an expensive service job. Then there is no guarantee how long it will last.
You maybe want to consider trying to find a NOS OEM replacement drive. 1.5 gear ratio, right?
Rod