1989 Formula 292 SR1 - 454 330hp vs 454 Magnum 365hp

Hey all, sorry for the long post.

So my search for a Formula continues. I have found a fairly nice 1989 Formula 292 SR1. Looks just like the one in the Formula brochure.

Now the thing is it has the 454 330hp engines. From what I gather, at that time the 454 365hp Magnum motors were an option, albeit a very nice option. I've read about the differences and the Magnum motors just sound like they're better built, built stronger, higher RPM, and handle more power. That said, I don't plan on putting more power through it (I will hopefully be satisfied with the 330hp motors), but there's still the case that the Magnum's are stronger and potentially will last longer with all the forged components and updated intakes.

Now question is, as stated, the 292 is in quite good condition, would you ignore the extra 35hp and forged/updated components of the Magnums and just get the boat, oooor should I hold out for a boat with a pair of Magnums? Usually companies go away with products because there are issues, was that the case with the 330hp motors in the Formula's? I also have looked at a few 311, so those are in the ballgame as well. And from what I've read on those, they're a fantastic boat...potentially pass and hold off for a 311 with Mags? The condition of the 292 really has me on the fence.

Also a lil extra, what do we all think of the Bravo 1 (4 blade) 24 pitch prop on a 292? Should I just get a Hydromotive Eng prop IV ...I know so much back and forth on this topic but I thought I'd throw it in.

Thanks!

Rob

IMHO....if you found a gem don't pass on it for a little bit of HP. Also, depending on if they are the original motors, being an 89, your going to want to freshen them up anyway for your own peace of mind. Whether you do it yourself of find a reputable engine builder, you'll know that even though they aren't mags it was done correctly and you can run them without worry.

Well, I agree, I wouldn't pass on it for HP, but I would consider passing on it for the better built Magnum motors ...is that a viable reason to pass on it.

I wouldn't call it a gem per se, just very good condition for its age vs others I've seen.

The 330s are great motors in stock form, very dependable and low maintenance. They just don't have forged internals and the rod bolts are small making higher horsepower/rpms upgrades questionable. If the boat is in great shape, you may want to grab it. At a later time you could always take out the 330s, sell them complete, and buy take out 365 mags or even 502s.

I had a 272 with them and could cruise 50mph at 3500 and topped out at 64ish.

Edit in: I see no reason why a mag motor would outlast a 330. The 330 being lower performance is a work horse built to run for many hours if properly maintained, 2000+ hours.

Hey Mr. Maine! Always good to hear your thoughts. So the cast parts in the 330 are fine and will last just as long as long as I don't start being stupid and putting crazy HP's through it.

I see you have am 87 311, this is also on my radar (87-89 311's) ...I've read they handle better than the 292. Obviously the longer hull will handle the chop better, but I wont be in any oceans. That said, I do occasionally see 4-6 ft chop in my area...but on average around 2-3' chop. This is the other thing that's stopping me from pulling the trigger on the 292.


R

Well, given a 292 or 311, I would choose the 311. They are obviously bigger and run almost the same speed for the same power. They are well balanced and quite a few around. I'm not really sure why they made the 292, seems like the 272 to the 311 was a reasonable jump in size without having an intermediate.

That being said, there is nothing wrong with a 292, and if a good one showed up I would get it, they are very similar to a 311. Many (292/311s) have base 330 horsepower most likely because the upgrade was pricey. I believe the upgrade to the 420s was like 25k or something, and that was way back in the 80s.

Wow, 25k from a 330 to a 420??? And, yes, that's a great point. I wonder how much more Mag motors were vs the stock 330s ...I would think this would/should reflect in the price of the boat. In terms of used Formula's how much more/less do you think the boat should be with/without Mags?

Rob

I think like 6k per motor, but that may not be correct. Thing is on resale 25 years later it's a toss up. Depends on condition, most motors have been rebuilt or replaced by now and originals may be tired or in great shape.

On average I would say 2 to 3k for mags over 330s. Another 2 to 3k for 420s but that's just a wild guess

There is almost no difference in price between Mags and 330s in a 28 year old boat. 420s would get a small premium.
I agree the 292 and 311 are very similar, the 311 is usually a bit more sought after because of the reasons listed above. I would not let the 330s hold me back, a 28 year old motor is a 28 year old motor, Mag or not.

Okay. I'll have to give this some thought. It's tough. The boat has been for sale, but who knows when someone will snatch it up...I'd rather wait to see what comes to the table (i.e. a 311 or something, but not sure).