I checked the API service recommendation on the Pennzoil marine lube that I had on hand- 80/90 weight for lower units and stern drives. It is recommended for GL 5 service. The Pennzoil gear lube I bought yesterday is GL4 and GL5 service. What is the difference? Here is an excellent article from the Corvair club that goes into quite a bit of detail.
Some interesting notes from the article:
1) Follow the recommendations of your car manufacturer
2) Don't overdo it on the modern additives.
3) Be careful what you use in your transmission. It may not be the same as what is in your differential (I didn't know that).
Here's the article:
http://www.widman.biz/uploads/Transaxle_oil.pdf
As far as the Mac's 600W Oil, there is no API rating on the container, and no indication what the application is intended for. It does, however, make an interesting note that many leaks are caused by overfilling of the differential or using the wrong lube. They indicate the rear should only be about 1/3rd full with gear lube.
I did check the recommendation in my 1937 Ford manual, and it is exactly what Bruce posted earlier. Nothing in the manual suggests anything remotely like 600 weight.
I'm doing what Bruce says. I drained the 600 and replaced with the 85/140 Pennzoil.
And for the record, when I examined the used Mac's 600 wt. lube, it had about 1200 miles on it. It looked perfectly normal, and nothing unusual showed up in the pan.
You'll have to make your own decision here.