[rockdoc]

I would add up what two new mercruiser or volvo motors/ drives cost, installation on those, and replacing the transom. And add another 1K for all the little things that add up too. Is the fuel tank original? Add another 1K. Don't delude yourself when you're trying to talk your wife (and yourself!) into an old boat project. Overestimate the costs and you'll get an idea, but as with any boat the true expense will be more. And consider; do you want to maintain two inboard/outboards?. If you're not doing the work yourself, get quotes from a good factory trained shop as to what it will cost every year to maintain those.

Steve