I have a '96 502 and a '97 7.4L both with the fuel pump/water pump single shaft assembly.

Does this apparatus have a lubrication point that needs regular attention?

Thanks

Yes, I remove the fuel pump and replace with merc gear lube every season. It can be a PITA!

Some had a drain plug. My current one's only have fill plugs so I use a syringe to suck it dry and refill with Merc gear lube a couple times a year. They always get a little fuel in the oil. I changed the pumps and on the first oil change they had fuel in them so I left the pumps alone. It's been years that way. Watch the vent hose for oil. Mine have not shown any.