you don't need to split the hull to put a new transom in that boat, and you don't have to use marine grade ply either, each to his own, but I use cabnit grade plywood from Home Depot that cost $39 a sheet, has 7 ply's, more tensil strength than marine grade, and since it's going to be completely incased in fiberglass it don't have to be treated with a rot resisting agent.
The thing you do have to pay attention to is ... when the transom is bonded to the hull, it is a Must that the transom skin be Flat, Mercruiser gimbal assy only gives us a 1/16 tolerance with a new gasket seal. secondly, if you make you a template, you can build and bond the two pieces of 3/4 plywood on a bench, cut the hole, drill the mounting holes, then place the transom in the boat, the holes already drilled will help you bond it to the boat, and help assure a flat transom. The mounting holes Must be drilled Strait.