I have had the same motor for almost 30 years. The only time I drain the water in the lower is if it is going to freeze. I have always stowed with the motor up and resting on the transom saver. The only thing I have done to lower is machine the clutch dog, replace the reverse gear and replace seals.
2200 Bay Champ/200 Mercury Optimax
2017 Tundra TSS 4x4 Crewmax 5.7L