Does the -3 flywheel run in oil if so should their be a plug to check the oil level? I have looked for a plug to check and see if their is to much oil in the bell housing.. I can not find a plug but there is a weep hole in the pump mounting flange wright under the bottom of the pump about 5 inches up from the bottom of bell housing. Did they make some -3 this way or do you think the pump has been changed? I looked at a -5 and the bell housing made different than mine it has a plug about where the weep hole is on the -3.
Well not speaking to the 200, but our 150-5 is supposed to run a small amount of oil in the bell housing and there is a plug to check level. This is not documented in owner's manual. Typically the rear engine seal leaks, overfills the housing and takes out the flywheel speed sensor. We drain the excess a couple of times a year as it's a slow leak. I learned this from the dealer mechanic when he was changing out the speed sensor. If it gets high it is also hard on the starter.
Originally there was a 1/8" pipe plug with a square head underneath the pump that was the level plug. Your weep hole sounds like where the plug used to be. When the rear main seal in the engine started to leak it filled that housing and then cooked out the input shaft seal on the pump. Then you had lots of oil always filling the housing. The fix is to pull the pump and flywheel and change both the rear main and the front pump seals. As I recall though on the 200 model machines you had to change the seal from inside the pump which meant a dismantle. I used to tell clients to mount a little pan under there to catch the oil and don't worry about it. Good Luck!