Thanks for the comments jez350. We had Ed Cozzi do the survey and he also did a sea trial. We had it set up to do a compression check but after Ed ran it on the trial he said he didn't even need to do the compression check.
He said those engines are really strong and they put that 38' beast on plane in no time and they pulled all the way up to 5000 rpms with no problem. He told me it would have been a waste of money to do a comp. check and when Ed Cozzi says they are good....they are good.
We are planning to change out the cams and get some head work done on the 500s next year sometime. We would like to get them up to about 600-650hp, but for now we are just going to get used to handling the boat and have a ton of fun with her.
Take care,
Chuck