Phnx - If you're interested in Range, repower with the Diesel cummins/mercruiser 1.7L 120hp combo. The package is around 10K (sometimes under)
http://www.cmdmarine.com/PDFs/4081824_1104.pdf
Lots of folks here have fuel flow gauges, but I doubt many people monitor there motors past the usual Temp, water pressure, and oil pressure (i/o). The ammount of work/time it takes to fine tune your rig and get the extra mph or gallon per hour just isn't worth it to most folks. You might be able to find a machine shop that specializes in rebuilding marine motors to help you, but I beleive that most folks with your motor just want to go fishing or cruising.