You can pull the plastic cover off the top of the engine to see if its, the cockpit linkage is moving. it could just be a lose nut. I assume you got 7.4 MPI's.
35 psi in which hydralic fluid reservior? this I/O or inboards? easy to find a leak in the boat, look for puddles, if leaking out of the boat you'd have an oil trail like a damaged german U-boat.
the boat is 11 years, old, and as stated, the "soft" components poop out.
anchor switch just needs shot of wd-40, like most unused massaorator switches, raw water put is an $80 kit, not to hard to put on, and leaky injectors, you would smell gasoline.... so, they uses miss, not leak.
give us more info.