I work for a tow boat company that has 2520 DVSC that started off in Beaufort with a 5.7 and a Bravo2 and a 19P AL 3 blade prop. The first owner, a TowBoat US operator took it out (blew it up) and put in a hot rod carburated Big Block. It was advertized in the Yellow Sheet (Boats and Harbors) as being able to do 48kts. Well when we got there, the engine was pulled and a carburated 5.0 installed. (Price re-negotiated) Still the Bravo2 but now with a SS 20P 4 blade prop, (probably left over from the 450HP BB). Mercruiser says this 5.0L package should be 220HP The boat runs 26 kts at 3800. Not good, besides the other tow companies can beat me to the scene of a MARB. (Did try different props, got RPM's; speed the same. Bravo 2 props way toooooo expen$ive) So the plan is to install a Cruisader Marine 320 HP this winter. It is a new 5.7L GM engine, big heads, roller cam, Holley carb, for about $4000. We want speed but tow loads, and some fuel economy.
A general rule of thumb that I have lived by: to double speed, you have to quadruple horsepower. Seems simple but it is a round about theory that seems to have worked in my sorted black outboard past. hehe
I agree, stay away with drastic modifications, ie. bracket and big outboard. Stick with the 5.7, or maybe the EFI 6.0L GM Gen III base engine. These can get upwards of 375 HP, then you can have fun figuring out prop you need to be using. Good Luck with your decision. Keep us up to date in the Projects forum.