Wonder what the power difference is when measured at the prop. I know cars did the same switch in 1972-73 when they went to SAE net HP. I know the power difference was quite a bit but there are a lot more moving parts in an automotive transmission then an outboard plus I think cars were also tested with p/s pump, alternator, fan, ect too.
A 1972 Lincoln Mark IV with a 460 V8 was rated at 365HP gross. The same engine in a 1973 Mark IV was rated at 212 HP net. 365 to 212. That a big difference!