Eric,
Victor is 200% correct. If you are trying to repair a cracked housing, DON'T! You'll have a lot more than $200 in the job by the time it's done properly. No offense to your boat welding buddy, but welding cast aluminum is a whole different ballgame. There are shops that specifically weld cracked gearboxes, uprights, etc. Try pricing the job and getting some advice from a pro before you take the big leap yourself.
Bill