First, welcome to the best forum for boats on the 'net. You've come to the right place!
The tournament is a great layout for a day boat. For lots of guests on day trips on the lake and such, they afford a ton of room and make an outstanding platform for fun on the water. We seriously considered one when we were looking, but because our trips are mostly in the ocean, the cuddy has proven the best choice for us.
For a lake boat, water sports and such, go with the bigger motor - you'll love the power. Have them prop it on factory specs, then you can opt for a stainless prop down the road if you want to go up or down in pitch or style. They are fairly expensive.
One thing I will tell you, the 22' has a MUCH bigger head compartment. We would certainly have gone that way for a bow rider. Unfortunately, the 205's head is only big enough for kids and petite's. If you have a 125lb wifey you'll be fine, if not, consider the bigger boat. Otherwise you'll be looking to go bigger, sooner rather than later.
If you're pulling for watersports, opt for the factory tow pylon. Nice option. Get the full cushion package, and a swimstep. If it's hot and sunny where you're at, at least get the bimini.
As far as Grady as a brand of boat, well there just isn't anything out there that's quite as nice. At least that's what us owners will tell you. And they are heavy, the ride is really great, and they're dry. The detail features built into the boat are really well thought out, like storage, layout, seating, etc. The quality is evident everywhere you look. As far as I am aware, Grady is the only recreational boat built to mil-spec, they cast them in gray gelcoat for military and law enforcement use. In fact, at least in the smaller sizes, they come standard with lifting eyes on the transom.
Same with Yamaha outboards. They are well engineered, super quiet, and very reliable. They are certainly one of the best, and I don't think anyone would argue that. Personally, I don't think I would buy a boat with a Merc on it. I don't think they're necessarily bad, but I think Yamaha, Suzuki, and Bombardier are a better product.
BTW, the 200/225/250 is a V6, the 150 is an inline 4, and they are about 100lbs lighter. Another reason to go with the bigger hull as far as I'm concerned. You won't be sorry. Yes, they are more money, but you may find a late model one if a new one is too much, and there are a lot of bargains out there right now.
PS> I started boating in 1962 :mrgreen: