With the alpha drive, I would always be worried about damaging it with a 383. I don’t see much point in having 375hp if your drivetrain prevents you from beating on it a bit. With that said, what model boat do you have? It’s not so much the power itself that’s a problem, it’s the size and weight of the boat coupled with the hp that causes stress to the drivetrain.
It it sounds like your mind is made up on the 383. Does your current engine have a tbolt-5 ignition? Some of the more knowledgeable people can chime in and tell you if that’s The same part on the 5.7/383. If so, I’d keep the ignition. It’s a good and reliable system and it already has a rev limiter.
the one you showed in the link seems like a decent deal. I’d see if they have them with the intake/carb and delete the delco voyager. Might save you some more money. The carb and intake alone will cost $700-$800. So add that to the $3200 you mentioned above, plus all the little nickel and dime parts, and you have to assemble it, you’re not really saving any money. Better to buy one already built that may have a 90 day or even 1 year warranty. Their shipping is $350 for the engine in Ocala. You may also want to try Michigan motorz. They’re closer to you, and may offer a similar package and price, plus they may be close enough for you to pick it up and you can save money on shipping. If you’re sticking with the 1.61/2 ratio that your boat probably has, you’ll be buying 25 pitch props.
as for the valve covers, if the new engine come with them, why change?