From my recent experience if you rebuild the boat using light materials and modern building techniques you can put as heavy an outboard on the transom as you like. My boat now floats on its original lines with a 485# Honda. Decks are dry even with two people standing all the way in the back of the cockpit. Deck is only 1/2" higher than original.
My new tank is 1/4 the weight of original. New foam core decks are 1/4 the weight of original. The old cockpit sole was ridiculously heavy plywood with way too much glass. Throw it out and use 1/2" foam and don't worry about the weight of the outboard.
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