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Yes, swapping the powerhead can be done BUT: you need to remove all the cowling to get at the bolts, then as stated above, some are difficult to remove from the midleg. It is WAY easier and quicker to simply swap the engine--IF the donor is running well.
The complete powerhead for a 125 weighs in north of 125 pounds but the whole engine is only about 275. SO: with an additional 2 men and a boy, you could manhandle the engines on and off relatively easily. In fact, I am not particularly big or strong--5'9" 160 pounds-- and I have in the past manhandled an 85 off a stand and into my truck by myself. Wouldn't want to do it on a regular basis though! LOL. If you have a sturdy tree handy and a come-along, the job is even easier.
With my hoist, I regularly switch engines in about an hour. Now, a hoist is not absolutely necessary: You can lower the front of the trailer and block under the skeg with the engine vertical. Then, with two people stabilizing, raise the trailer unitl the engine clamps clear the transom. Then simply lay the engine on its side--no lifting involved. Reverse the process to mount the new engine.