Re: 74' 650 lower unit querstion?
Prop shaft should not move in/out that much. Sounds like you may have a busted bearing carrier, or even worse a split gear case.
Happen to have any pics of the area just behind the prop, where you say it is "split"?
Finding a used gearcase for that motor is not too difficult, but its a crap shoot in terms of reliability and typically the price may lighten your wallet a bit. Your local eBay or craigslist site might be a good place to look.
Before deciding you need a new case, it will help to figure out what is wrong with that one. Rebuilding it with new bearings/seals, and a new bearing carrier may be an economical option in this instance.
If you have problems posting a pic, feel free to
email it to me.
Good luck.