Wonder if you'll have to jump thru a bunch of hoops like "what is the engine serial number" BS like I have in the past? That is, provided you go to a Marine store as opposed to online. Its a GM 350 or 305!
I guess to be safe, bring the old one with? I got all kinds of grief about this before just for a thermostat and gasket.
Regarding the speedo pickup...I read once that you should blow the water out as part of your winter storage. I had done that in the past and did get water out. It was left outside at that time but no longer do it. I do not think they necessarily drain on their own unless you've got a hole in your hose, (to let air in and allow the water to escape) in which case, it wouldn't work properly. I could be wrong. Water is forced into the tube.
On the other hand I see your point about inaccuracy. If there is air in there at the beginning of the season, how does that get out?
I just accept they are wrong. I don't even think I'd install if it wasn't already there.