I picked up my new powerdrive 40 today and have a few questions about mounting it to my boat.  I wanted to put the shaft directly in front of the boat, but I lose to much area to bolt the TM down to.  Does this look like an ok position?  

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I think it looks fine. As long as it does not hit the boat your good to go.

That is actually the preferred position.  Straight ahead wastes space, and I guaruntee that you will be the butt of all gossip if you do.   ;D

Clamp it down, and run through the stow and deploy methods, and steer it all the way around a couple times.  Those powerdrives are a little different to mount, than a conventional scissors mount, and with some of the odd angles, and insets of the parts on them, I would definitely try it first.

Looks good to me.  I just mounted mine like this, a little to the side.