Nice Nice! We have a '69 G hull Rayson Craft that my dad bought off the showroom in 1969. Ours has a HMS-prepped High Riser in it. Like you, when time allows, it will go back in the water. Mine is still in great shape. The color scheme is the exact opposite--white with metallic blue stripes. Those boats are "safe" to about 100 mph with enough engine, and right conditions. Yours most likely has a 12 degree strut, which tends to make the rear of the boat lift at high speed, which is not what a person wants to happen in a V-drive. With 18% overdrive and a 2-blade prop, ours would kiss 100 mph back in the day. Three blades are the ticket for normal runabout duties.....Probably 11 diameter 15 pitch and 18% overdrive. A good 390 will get close to 80 mph like that, and do it safe. If you need any ideas on plate adjustment or other v-drive stuff, let me know. I have a huge soft spot for a good V-drive.....you never get over the whine if you grew up in one!
Those hulls make a great ski-boat. The later design Cole and Hondos with 7,8,9 degree drop-through struts, adjustable plates, and runner bottoms are the deal for high speed, but the engines stick way up in the boat, and there is no back seat room. The Rayson Craft is super for what you want it to do. Do the hydraulic roller, even if you have to put 21% gears in it. It will spend lots of time idling around. There were no "strokers" when I was a kid. A guy might find out a 500 incher with 29% gears would cruise at 60 mph and not break the wallet.