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When under power, my BOW is extraordinarily high and never planes out. Also, while the boat is tied off in the wet slip, we randomly see water being pumped out of the boat. I know the drain plug is in, what could be the issue?
I have the same boat. The issue getting up on plane is because your trim tabs are missing. I believe the trim tab size is around 12"L X 18" Wide. If you put the tabs down prior to getting on plane it should plane out much easier. The motor should also be fully trimmed down prior to getting up on plane. The 245 Vista also sits high on the water when up on plane and tends to lean easy in a crosswind so you're also going to want have the tabs to correct the lean.
I replaced my engine years ago and switched to a stainless prop. But when I had the factory 260 HP Mercruiser 5.7, I had a 15x16P Mercury Alpha 4 blade propeller on it that worked pretty well. I also had a 14.5x18P which worked well for general use but struggled with heavier loads as the engine aged.
As for the water leaking in there are several places to check. The obvious ones to check first are the bellows on the outdrive. After that there are corrugated drain tubes that come down from the 2 storage compartments on either side of the engine compartment down to through hulls on either side. The hose eventually get brittle and cracked at the through hulls and with the through hulls so close to the water line, waves can bring in water. The other two spots to check are the drain hoses that come down from the galley sink and the bathroom sink. Also check your engine hoses and hose clamps.