I have a 35' Fountain with the 496 Mag HO's. The boat was winterized and sitting on a lift. The lift deflated and the boat went into the water. Does the boat need winterized again after I get it out of the water?

Thats a bummer, You should be good if all you are doing is getting water out of it. 496's are closed cooling with antifreeze

Just wanted to make sure the water would drain back out of the outdrive.

Does it have strainers? Depending on how for down it was. They could have filled.

not sure what strainers are?

Where do you live? In many places, the risk of a hard freeze may be over by now. Is it salt water? If so, you'd be good to flush stuff out the raw water just to limit corrosion.

Sea strainers, if you have them, are usually a big cannister looking device with hoses running in and out, and usually a clear bolted lid. You may not have them. You don't have transmission coolers, but you may have a power steering cooler. If you did not start the boat, it's unlikely any water got to the header/mainfolds.

While we are on this topic, what is the consensus on regular raw water cooled motors for winterization? After running anitfreeze into them, leave the blocks full or drain them down?

I leave mine full to reduce corrosion. The antifreeze I use has a rust inhibitor additive.

+1

As long as the antifreeze is rated to the temps where the boat is stored, that is.