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I just did this job on my 300D 2.5 turbo. IMHO 4.5 hours total labor is a good deal - I spent at least a day doing mine. I'm not sure I could do it again in 4.5 hours.
I agree about bad design with respect to the pump leaking. It seems like all the 603 and 602 engines require a IP reseal every decade or so.
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