Do you know what model the trans is? I don't know of a 2.61 ratio Velvet Drive, so I'm wondering if it's a something else.
If it's a Velvet Drive, I've got a pair of 2.57:1 reduction 72C transmissions in my boat. I sheared the teeth off the stationary plate in the reduction gear around with around 1550 hours on the port trans. No collateral damage, just had a new plate overnighted, pulled the reduction housing, swapped it and it's been fine since. No symptoms leading up to the failure either, it just went from fine to no power output very suddenly while cruising.
My stbd trans suffered the same failure about a year prior (before it was in my care) at around 1500 hours. However, the stbd one had some noise and symptoms leading up to the failure, as well as some visible gear damage, so it got a full rebuild.
Other than that 1 weak point, they've been rock solid. At this point, I've got about 1700 hours on the port trans, about 180 on the stbd rebuild. Keep in mind, my transmissions are behind a pair of 340hp engines that turn ~4200 RPM at WOT (fast cruise is 3300 - 3400).
Only thing to watch is not setting the idle too low (causes damper plate rattle). You're putting far less power and RPM through your transmission than I do, so it'll likely hold up just fine. Do keep an ear out for damper plate rattle though, as lower RPM and/or rougher idling engines tend to be harder on damper plates.