There are rules to that competition, there are comp eliminator motors at 360 cid that make over 800.00 all motor. I got monies to back it up if there are any takers. 500hp 347cid is no big deal with the cylinder heads available today. my superstock 302 motor makes 440 to the crank. 8.8 to 1 compression stock block crank and rods. Stock heads with no porting, victor jr intake , stock carb from the factory (86 mustang in this case) roller cam. Ran it for 2 years and Im no genius. I just dont buy the acuracy of the charts is all. Are there any jet dynos out there? That would be cool. Im pretty sure 500 hp wont go 79mph in a jetboat with 2 big guys and 1 girl in it. Maybee it will I dont know.
If you try to make automotive practices work in a boat, you will not be successful, period end of story. you say 800 hp this and that, but at what rpm? If you make 800 HP at close to 7000 rpm, that would have to be one badass billet built pump to be able to put up with the abuse...
Don't get me wrong, but 500 HP on a BBC is pretty respectable given the same engine from the factory version of the same motor barely broke 300 HP. You cannot compare an automotive engine to a Jet boat engine, the load simply never lessons like in a car, the load increases until accelleration stops, that's it, no compromises.
For an engine to make a good jetboat motor, peak torque should be at a higher RPM than on a car, since torque is a major mathimatical component of HP, the WOT RPM will be lower to get them close (425ft/lb at 425 HP is the middle of the road).
There is no way a good running automotive type build will run well in a jet (build meaning cam, lifters, rockers, carburetion, ignition, compression yada yada...)
Also,just because a BBC has a roller cam don't make it a good motor, could very well be the wrong cam or even timed wrong or the tune up could be missing by a mile.....
There are some good threads here and the search feature works well, check out some of the threads on pump loaders and other setups, I think you will be suprised how complex it can be...not as cut and dried as you may think it is....

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GT