Could be lots of things. Cutless bearing is the simplest (and
can be fixed in the water, but that's an exciting procedure!). Could be mounts; sometimes they look okay but are soft, or delaminated inside. Could be shaft alignment, coupling, or a bent shaft. Prop shape or balance. Or an internal problem with the transmission. Cutless bearing is the usual culprit -- IIRC, side to side play of the shaft in the bearing should be less than 2mm. Of course, other issues like a bent shaft, unbalanced prop, or mis-aligned coupling will cause the Cutless bearing to wear prematurely.
Have you already taken apart the coupling, just to see how well it aligns? May be able to rebalance that w/out having to pull the boat; and at least the bolts will then be broken free if you DO haul it back out to replace the Cutless.
