Do the math on the difference in MPG with a new fuel efficient motor. If you spend enough hours on the water, you might actually come out ahead after adding up the payments on the re-power. Based on the number of hours we've put on our Honda since the re-power last year, it is more than paying its own way in 40% better fuel economy and no 2-stroke oil or ring free to buy or bother with. Not to mention the headache of never knowing whether I'd make it home without being towed by Vessel Assist and the countless hours I spent at the dock with the cover off and all my tools on the deck.
Old motor (an Ox66 250) burned about 16 gph at cruise when it was running properly. Honda 225 burns 10 or 11 (and that's with a crappy prop).
Using conservative round numbers and a 5 gph difference in fuel burn rates:
100 hours a year = 500 gallons of gas x $5 = $2,500 a year in fuel savings.
Figure another 12 gallons of 2-stroke @ $30 = $360
5 bottles of Ring Free @ $20 = $100
Total = $2,960 divided by 12 months in a year = $247 a month in total savings. If you get a Honda, I think they still offer 3% financing over 5 years, and the payment will be pretty close to $250 a month. In other words: "ALMOST FREE"
But we put about 250 hours a year on the boat, so my "ROI" is more than double - I actually "make" money every year with the new motor after making the payments.
Either way - good luck! The great thing about a Parker is that its worth the investment in a good motor.