Looking at a 2002 38/TS with 700 hp and #3 drives is this a good setup or a time bomb waiting to explode, dealer tell's me that owner built the boat this way and chose the #3's for there strenght. What should I look for or be cautious of ?

the owner was smart to avoid bravo's

Are thet 3's or 3A's?? I would find it hard to believe someone put 3's on a 2002. If so the drives were used. All SSM's are good drives. The 3A's would be nicer to have because of the larger shaft diameters.

You must be looking at this boat? Read this thread thoroughly

http://www.offshoreonly.com/forums/s...ad.php?t=95771

Given the choice, I would still rather have old 3s with 700hp than any bravo. If they are old 3s and not 3a's, just price the boat minus the cost of used/rebuilt 3a's + props.
If they're 3a's, do regular maintainence and drive the pi$$ out of it.
BTW, a 3awill bolt up directly to the 3 gimbal.
Gary