regarding the intake - same. vortec intake is vortec intake as far as the ports are concerned.
however why on earth would you stick with the heavy cast iron 2-barrel setup. if your going to 5.7, go with a marine aluminum intake (with the bronze water passages) and go with a 4 barrel
regarding the drive ratios, not enough prop to compensate, however may not that big of a deal depending on your boat weight.
regarding the flywheel, unless you pull the motor apart, balance the complete rotating assembly, there is no point (as there is no difference between the 305 and 350 unless you jump generations), and the machine shop will laugh at you.
for the cam, depends on what you are running for a motor.
268 degree max duration for wet exhaust on a flat tappet 270 degree max duration for wet exhaust on the roller motors.
now specifically
what year 5.0, what year 5.7. assuming vortec on native vortec spec'd block puts you 1996 or newer. your 1-piece rear main seal, so the flywheel an external balanced flywheel available in any 5.0 or 5.7 liter equipped GM truck, or marine motor
if you run a cam on the vortec heads, you need the valve guides cut down. your machine shop will help
for the cam, the XM270HR would be my choice for stock exhaust
https://www.summitracing.com/parts/cca-sk08-417-8/overview/