What's the basic difference between these two models?

Huge difference. Almost 3 foot and one engine vs 2.

I have always thought of the 271 as the older 242 put on steroids . . . Only about 1 foot difference on the 'usable' part of the hull . . .

The 272 from the late-80's - early 90's is more like the 292 of today in terms of size, power, etc.

So, if you put a 271 next to a 272 (w/silent thunder platform) the 272 will be about 2 feet longer, a few inches more narrow, 1,000 +/- lbs heavier.

forgot the almighty stepped hull

I typed it then deleted it.....the early 271's didn't have a step.

These guys nailed both very good boats, buddy has a 272, when i had the 271 he was about exactly 2 ft longer, both have really strong points, and great arguments for each, I loved our 271, rode great and performed pretty well, you could go swimming in the engine compartment compared to most boats, which made maintenance a breeze

So what I am reading is that a mid '80's~early '90's 272 is the same size as today's 292 and the 242 from the same era is equivalent in size to the 271....correct?

pretty much sums it up,

If the swim platform is NOT molded onto the hull (ie: bolted on) than it is NOT included in the LOA.

If the swim platform is molded onto the hull, than it IS included in the LOA. Most newer Formulas are this way.

Sounds like this deal really helps the marinas...they have a cut off in their pricing usually at 26'. So a guy with a 242 pays less than the owner of th 271...and they take up the same space.

The Bahamas have a 26' premium also I believe.