Based on my own experience with three engines (250 OX66, BF225, BF250) on my 2330DV, I will say that equally important to HP is the TORQUE. Unfortunately OB manufacturers don't publish torque numbers, so you just have to listen to anecdotes and weigh them for yourself. I found that the Honda 225 was adequate but after recently switching to a new Honda 250, I am BLOWN AWAY at how much better it is. And I don't think its because of the additional 25 hp (which is frankly debatable, anyway). Its because this is a larger 3.6L displacement engine that likely produces more torque at low and mid-range RPMs and uses a 2:1 final drive ratio. I don't hear people talk about this much, but I will tell you that on a 4-stroke motor on a heavy boat that drive ratio makes a big difference. (totally different if we were talking about a FL go-fast boat with triple 300s and a desire to go 80 mph). The "BLAST" and "VTEC" seem to work much more effectively on the new 250 to boost (and flatten) the torque curve versus the older 225.
Just like shifting to a lower gear on a bike makes climbing hills easier, the lower gear ratio of this new 250 makes a *dramatic* difference in getting on plane, maintaining plane at lower speeds, and also overall fuel economy. (My fuel economy has improved by 20-30% with a BIGGER motor, and its not even broken in yet). My motor height is correct, but I have not started playing with prop selection (currently running a 3-blade Solas Titan 15P). I'm not as big a fan of the Permatrim as others here, based on my personal experience, but they don't really do any harm (other than dilling holes in your lower unit and knocking a few MPH off your top speed)
So, M2CW is that a 225 with a 1.86 drive ratio will get the job done (kinda like a fleet truck with a V-6 motor), but a 250 with 2:1 drive ratio feels "right" to me.