Hi Bruce,
The bellows on ours fit directly over the shaft log (the fitting where the
shaft goes through the hull). If yours has an extra rubber hose over it,
maybe they ordered a larger size than they intended and had to add a chunk
of hose to make the shaft log a bit larger so the bellows would clamp on.
In any event, I wouldn't worry about that if it's not leaking.
It sounds like you did the right thing by sliding the SS Ring aft and
compressing the bellows a bit. It's an approximation, and if it still leaks
some after running the engine in gear for 15 or 20 minutes, you may just
need to compress the bellows a little more.
Be sure to keep the wooden board covers in place when you're running the
engine in gear. If the seal isn't perfect yet, and there's any dripping,
you'll get a spray of black graphite that spins off the shaft and it'll
stain the interior of your cabin if that happens!
Also, you might want to plug up the drain hole that leads under the engine
pan and soak up any drippings with a towel while doing this. No sense
letting water run into a place that really doesn't drain well on its own.
Cheers!
-Jeff
PS: I called PYI to ask them questions about adjusting mine and when I told
them I had the model that wasn't vented, they took my name/address and sent
me free replacement parts to upgrade mine to the vented version. I never
installed it and changed back to my original stuffing box with the GFO Brand
Dripless Packing. I find this actually lets less water in the boat overall
than the PSS did and there's almost no chance of a catastrophic failure. I
still have my PSS in excellent shape along with the unused Vented upgrade
kit in a box.