The components required are the square drive engine coupler, the square drive cable, the ferrule, the stub shaft and drive dog, and the Teflon thrust washers. Items Needed for Square Drive Inst. The stuffing box should be aligned with the stub shaft at the rear after you have the boat set up as you want it so no bind is present between the shaft and the stuffing box tube. As for lubrication, I have seen MANY used and it is what you are comfortable with. Hughey Grease is good.
Some people use a mixture of several products.
This is available at any Mercury Marine Dealership and works VERY well.