Max HP is 250hp. However weight is going to be the issue. In 2002 grady white increased the height of the scuppers, this was also the same year that yamaha released the 225 four stroke. So the pre 2002 boats will have lower scuppers. So most likely these will now be underwater with the newer heavier 4 strokes. Yamaha did save some weight when they released the newer generation 4.2L 4 strokes about 4-5 years ago. I don't remember how much lighter they are compared to the older first generation 3.3L engines. I don't know if it would be enough of a difference though. Other options could included the 4 cyl. 200hp yamahas or and stay with 2 strokes(merc or etec). A couple of other 265 owners on here have repowered with 2 strokes and have been happy with the performance. I was looking into repowering my 2002 a few years ago at the time I was going back and forth with Grady, their recommendation was to go to the 4.2L 250hp engines. You may want to put a call into Grady white and get their take on it. I'm sure it is a question that has come up before.
