Hey AS lovers,
So after a summer filled with lots of skiing fun, my old 351w bit the dust and needs a rebuild.

I've already got the engine on a stand, and I would love the community's input on some of the things I am pondering.
Engine:
-My boat is a 1981 skier with what I am assuming is the original 351w.
-I am considering a HP increase, any rule of thumb for what HP is ideal for this boat?
-Any special torque ranges ideal for a ski boat? Low end, or mid range?
-I will likely have to stiffen up the aluminum engine mounts with through stringer bolts - any tips here?
-Upgrading to electronic advance while I'm at it.
-I found ~1 gallon of H20 in the engine oil after ~35hrs. I suspect an internal gasket. What have others seen?
Exhaust:
-Considering replacing exhaust tubes with new and adding silencers. I understand the need to consider excessive heat with the tube/resin. Any specs for these materials?
-Any luck with adding silencers? Any recommendations?
Steering:
-I found the rudder wooden mount to be rotten, replacing with 3/4" plywood and p. resin, any tips/recommendations?
-Steering slop - I feel like I've narrowed it down to the steering assembly behind the wheel. I've replaced the ball joint in the bilge and plan on replacing the cable & tube. Has anyone seen the dash steering assembly wear? Complete replacement or repair?
Misc:
-Considering painting the bilge white
-Found a crack on both my stainless exhaust coolers on an external weld. Plan on having a weld shop do a simple seal weld. Has anyone had water leak back into their engine who had a stainless exhaust cooler? I don't suspect this, and am going to test the cooler with a hose.
- Definitely going to give S.B.P.O a call soon!
ANY tips or advice while the engine is out???
Thanks so much!
Charlie