My thinking is that I'll take another project because I enjoy the personal work ... but I have to have one running that I can play with while I have a project to work on.
There was a '69 160 that sold for somewhere around $500 in the last year or so. I love the look of those 160's, there really isn't anything else like them. I'd take one that requires everything ... floor, transom, seats, gauges, motor, controls, gelcoat (I'd only ask that the rails and windshield be complete) ... When I'm done, it would be 100% custom - like they do on Overhaulin' ... respect what it was, but make it now & make it wow.
As far as power ... I wouldn't want it to be a racer, so cruising at 45 would be great and probably capable with 85/90 hp.
I might check in with Jerry again. I did ask if he needed architectural work done at one time, thinking maybe I could talk him into a barter, but no luck. I'm not dying to jump on one right away - with patience (and probably a little coin), I'll find a good one. I was just kinda bummed to find a little moisture where I wasn't suppose to have any ...