Raising the X significantly your going to be playing with props a little. With 320 hp in a 19' boat bowlift shouldnt be a problem, especially if you make sure there is no hook when your working on the bottom..

They tried that in the early days of steps. They used a larger reinforced rubber hose from a fitting on the deck to some sort of fitting on the bottom. From simple holes in the bottom to holes drilled in the back of the step, to electric blower motors forcing air. I believe (and someone with more hands on experience--I was in R&D with Laser Boats at the time (Bass boats)) that they couldn't get enough air "vacuumed" under the hull to see any appreciable gains. They found the the "side vent" or the larger cutout on the outside edge and the angle of the step allowed air to flow in at a sufficient rate to actually ventilate the hull, like that super cool picture you posted.

As high and as a pretty as that boat is running in that picture, I'd just do a pad if you really feel like messing with it, other than that, it looks like it's hanging out on that tail, ready to rock!