Hi there..

I may be in a position to buy a new boat next week and am considering:

2001 312 Fastech with 454 MPI (380hrs)

or

2002 292 Fastech with 350 MAG (415hrs)

The owner for the 31 says he can go 63-67mph, but online says it should be at 72.

Then the 29 says he can hit 70 on a good day. Witht the lighter boat, the smaller engines can move it due to the HP to weight ratio.

What are your thoughts, recommendations, or warnings?

I'm looking for comfort and more speed. I'm coming from a 38 Baja Special. Formula boats are new to me....I'd prefer a louder boat as well. Both boats have four props. The 29 has drive showers.

Basically both boats have minor things the other doesn't so I'm torn.

Thoughts

If the 312 has 454 MAGS (385hp) it's a 70-72 mph boat (I had one with 502's that would run 74). If the 454's are MPI (310hp) then 67 is best case senario. When parked next to a 292 my 312 seemed quite a bit larger. The 292 is a 70mph boat on a good day.

The 312 has a better ride then the 292. It just feels more solid. However, I can't complain about my 292 with 350's. I've hit 70.8 on my GPS. That was back when I first got it and was just seeing what she could do. The boat does everything I ask and need it to do. It's def. a workhorse. Either way your picking a Formula. Already ahead of the game IMO with either choice.

Yep...all depends on the 454's in the 312. If Mags, your good to go, if just MPIs, I'd pass as the boat would let you down in power to weight. But it would ride like a cadillac under 65! I have the 292, but with scorpions and love it hitting 76mph. The 312 was my first choice, but finding the right power is key IMHO and I passed on a cherry 312 because it only had the 310's. The owner was honest with me saying his best was 65. Hard to find with the larger motors...454 magnums, 502's or 496 mags or HO's would be the only option for me. Remember this...is it worth having a fastboat that doesn't go fast? Of course, this is subjective, but to me the average fast out there is 70+.

Hey thats me Guess I'm average, what are the prices?

there both around 45-50k.....now I'm thinking I may have limited my search and excluded other options...hmmmm

The 312 is Formula's only single step and I believe the 292 is a twin step.

If its any help, we were going to sell our 2002 292 with 350 mags last year and have decided to keep the old girl now. main reason being is that we have owned it for the last 8 years now, now all its minor quirks and even after putting 710 hrs on it so far, the engines still purr like kittens and will still run 68-69 everyday and hit a little over 70 when conditions are right.
We just ran it hard this past weekend at the lake Hartwell poker run in Sc and she ran like a raped ape as usual with a full load of fuel, 3 adults and my 8 year old son on board. Temp was like 94 degrees and we still did 68-69 like clockwork.

If you are looking for a newer style and newer hull technology and to also be somewhat fule effecient and fun to drive, you wont be disappointed with a 292.

My only complaint as well as everyone elses with the 292's is the slow time to get on plane but I can live with that and am used to it now.

We looked at a 312 before we bought the 292 and I am glad I went with the newer technology.

Just my .02. Good luck

The more information people provide, the more questions I start to have. For example, the engines needing replaced. I'm reading that people need to replace "uppers/lowers" after certain hours etc....just getting me thinking.

I generally go out every weekend with 4-6 adults.

I don't know what the recommended replacement hours are and I am sure a lot of people have different opinions on this but I can tell you this, I change the engine and drive oils every 25 hours like clockwork. We lost an oil pump in the starboard motor around the 400hr mark and when the motor was out, you could see the hone cross marks in the cylinders and everything looked really good. The relief in the pump itself failed. threw a new set of main bearings at that time as well since we were in there and called it good. I know we have some valve seals leaking a little as we get a little smoke on start up but they don't burn oil at all even when running hard like we did this past weekend.

When I do have to re power it, I will probably upgrade and go with the 383 mags instead but I doubt I will have to worry about that anytime soon since mine both run great still and they are well maintained.

I am on a crusade now to see how many hours I can actually put on them! Like I said, I am at approx 710 and counting!