Welcome to the site GG!
I have the same boat/motor combo as you have, you will have plenty of range with 42 gallons of fuel, I have a 40 gallon tank and run for days and days on a tank.
Using gps to track miles run and counting gallons burned, I get around 5 MPG (statute miles). Of course in rough seas you will get less, but even if it drops to 4 MPG, you still have 134 miles of range (42 gal x 4 mpg x 80% to give a 20% reserve).
But I would expect that you will get the same performance as I am getting so you sould have a 168 mile range (42 x 5 x 80%).
As for speed, I can get 40 mph with just me on board and 20 gal of gas running a 14x19 aluminum prop, 39 running a 14x21 aluminum prop. I like the 14x21 for most uses because it drops the rpms at cruise a bit, but I put on the 19p when I know I will be pulling water skiers to help get out of the hole. Weight really affects top speed, I once had 5 people on board and was pulling 8 kids on 2 tubes, I could only go 30 at WOT.
I'm sure if I got the bottom of my hull slick that all performance would improve.
Congrats on the new boat!
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Sold - 1984 V-20 Cuddy with a 2003 Johnson 140 hp gas sippin 4-stroke.
1995 Ranger 250C with a 2015 Suzuki 300 hp 4-stroke.
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