Here is the situation - which engine package would you suggest given the following scenario.

Assume the boat is either a 36 Outlaw or a 382 Formula. The top priority is a turnkey setup that will require minimal maintenance (oil changes, drive oil, etc.). The boat could be used as much as 100 to 150 hrs a season, so the hours could add up quickly. Assume each setup has 250-300 hrs. on them already. Top speed is not important. Assume the overall cost to purchase the two setups is about the same.

What is the lifespan of each engine before rebuilds? Will both boats hit at least 70 mph with the 496's?

Any input is appreciated.

The HO's will go more hours before spending money on them. Otherwise I think they are both very reliable. My buddy has a 382 with 500 efi's it runs 74ish. I don't think HO's will push it 70, but maybe. In the 36 there is no way it will run 70 with HO's. 500's probably would.

you want 496HO's, you can go 1200 hours and they will be fine, Blue motors you have valve springs, 250hrs, lifters, 500hrs, topend rebuild 600hours or so. Don't kid yourself the 496HO have power just replace the exhaust tips and they come alive.

So a 38 Formula will run faster than a 36 Outlaw? I thought they would both be pretty close.

Yes a 382 is faster than a 36 OL. Despite the 382 being heavier those 2 steps do wonders. I know of a 382 with 500's and boxes spinning 28's to 74+ mph gps. Most will tell you a 36OL will run pretty close to that too.
I agree with both for a person runing lots of hours and top speed not critical the HO's by far are the way to go.
Funny thing is you'll see most 382's with 500's, but problaby half or more 36 OL's have the HO's.

496HO without a doubt. I've heard stories of people running wide open throttle all season consecutively without a break down and good fuel consumption to boot.

I have both, give me the 496 ho s , less money in repairs
and maintence.Change oils and filters and oil coolers
at 800 hrs and have fun boating with the 496 s.
Dont build them, they ll last forever.

I thought the valve spring issues were on the carbed HP 500.
I never heard of a problem with the 500 or 525 EFI.
But if your not looking to get to the mid 70s, go with the HOs.

500efi had valve spring issues also, MY 500efi had broken springs at 280hrs, I was very lucky the valve did not drop into the cylinder. The scary part of this is they can be broken and run perfect, just a ticking time bomb. As for 525efi I cannot speak for, but the 525efi had header issues I read on another thread, that about $3500 a motor fix???

Blue motors are pretty and do give the extra performance but DAMN you pay for it.

that merc blue color is sooooo pretty