Over the years I have had two with the 165's, a 65? Owens XL20 and a 73? 17 foot Formula, the one in the Formula I put the 4 barrel on which they said made it a 188. The Owens was a tubby boat but a surprisingly good ski boat it would pull 5 up with like you say stump pulling power. I was all set to get a 292 truck block and do it up for the Formula but it caught fire with me aboard and sunk, the 292 punched, cammed and a bit more would have been a real interesting package. I loved those old Chevy 6's I ran E gas for a few years until the venerable 265 V8 came on the scene, I could beat them for a little while. The 265 became a must have and lead to Lula Belle my 38 Chevy but that is another story. I still think it would be a lot of fun to build up a 292 or a 302 Jimmy and stuff it in a small hull.
Phil
No matter what your beliefs are "GOD BLESS AMERICA"
Fully retired marine tech near 60 years in the biz.