Re: 78 79 chrysler outboard 70 HP
Yes, it is a good engine, but bottom of the horsepower line of the three cylinder engines. I always liked the three cylinder, three carb engines. However, there is no replacement for displacement and you would be asking too much from those 72 cubic inches.
On an 18 foot fiberglass hull, that engine will disappoint you. It just will not have the poop to adequately pull skiers. Acceleration will be poor and top speed with a skier will only be around 20-22MPH. Unless the skier is very light it will struggle to pull him out of the water and if there are more persons than the driver and spotter in the boat, it may not pull him up at all.
If you really want to ski with the 18 foot hull, you will need at least 105-120 HP in the Chrysler line. However, again, you have the engine and if the currently mounted one is not running, then you may as well try it--any engine is better than no engine. Just don't get your hopes too high.