whats wrong with the 488? Any option is going to be expensive. If you are going to do a complete repower, look at the 135 hp mercruiser(Isuzu) 1.6 diesel. If your 488 is junk, mercruiser reman has replacement long blocks, you could rebuild what you have, but beware, parts for those engines are getting scarce. 4.3 would be the logical choice, simular weight, simular hp, uses the same gear ratio in the drive. If my V was an I/O, it would have a 5.7 in it( i have a couple rebuildable cores laying around)
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