question for all of you that know much more than I....

Got rid of my 25' Baja -
Still have a Wellcraft 192 American.
right now can't afford to get into the boat I want - so I figure I'll play with the Welllcraft.

currently has a 140hp 4 cyl. with alpha drive.

considering re-powering it to have a little more fun!!!
I'm considering a 350 - can I do this??
am I gonna be tearing up the drive?
the boat runs about 45mph now - am I asking for trouble???

What about the coast gaurd and local authorities when you repower??

what about insurance??

what about the power rating from the manufacturer??
I know alot of you guys are running some huge power.
About 5-6 years ago I almost bought a 25' Hawian daycruiser with 600hp jet drive - I backed out because the only ins. Co. that would cover it was Loyds of London - at $3500 a year - hell the boat was only $12000.

Any ideas ??

can someone help me on this??

it's a serious question - I plan on doing a major work over on this boat - I just wanna know what kinda trouble I'm getting into.... - not that i'd let that stop me