Thank you all for your feedback/advice.
Bondo - remember you are talking to a "Cadet" here! I am considering both a new motor and a re-manufactured. Please advise on "Bobtail Crate", I am assuming you mean a drop in shipped to you motor? What is "mpi"?
My goal here is to get several years of low maintenance boating. My schedule does not allow me to properly take care of the old motor with continual parts replacements and troubleshooting. I want to go boating more and repairing less! Right now I am looking at several thousand to get up and running after a few years off.
When I said fresh water cooled, I meant I have closed cooling system (not raw, salt water). I do want to stick with this.
I have got a quote from a reputable company, for a Mercruiser 356, 275 HP, for 7K, with an additional 2K for the closed water cooling. This seems be going price with searches on google. How would this compare with the 5.7L Vortec? They say they would install this in the boat for 1500.00 for a total package replacement cost in 10.5-11K range.
Also, I failed to mention, I have a Sterndrive Engineering Alpha One, Gen II sterndrive that is only 5 years old, I would like to stick with. Is the Vortec 5.7 compatible with this setup, as you mention the Bravo with this AllDodge?
Carb, EMI or Mpi. Because I am only used to the Carb, I have not experience with the others. Does the EMI give better efficiency? What is Mpi? What about cost difference, and longer term maintenance?
Thanks again to all.