Ok Update - stopped by Harbor Freight on the way home and picked up a leakdown tester. Probably handy to have around anyway but was scared it may be irrelevant at the end of this process anyway since I assume the worst has occured. So just came in from ATTEMPTING to leak down, lol
Test didn't get far unfortunately. Started on the passenger side with the dead cylinder. Made it to the 3rd cylinder (dead cylinder) and rotated piston to TDC (as close as I could tell) and put air to it. Leak was 70% but air was rushing out exhaust ports of head. I thought ok! this seems promising. Went to move to the next cylinder, rotated the engine, seemed like nothing moved even though I turned the crank over. Thought I kicked a tool into the bilge area as I heard metal drop. weird.. Ok, rotated again, weird, nothing moved. rotated again, no pulleys rotating over. I pulled the crank bolt and it's not stripped or stretching. Put the bolt back in and tried to crank over again, just the crank bolt turning. Piston in Cylinder 5 (dead cylinder) is not moving. Pretty sure what I heard was the connecting rod dropping down. Motor seems locked up now... all I can think now is the threads are stripped going into the crank? I would expect the bolt threads to strip before crank. It honestly wasn't hard to turn over by hand the entire time. Pretty sure this thing is TOAST.
I think I may still do the block pressure test but kind of thinking it's a waste of time now. Might as well pull this thing this coming week and call Rapido. Looks like no way there is enough room to drop oil pan in the boat and see if anything is sitting in the bottom.
Here is the results (only got to 3 cylinders before the lock up):
Driver Bank
2 - 90 - untested
4- 110 - untested
6 - 110 - untested
8 - 110 - untested
Passenger Bank
1 - 150 - 30% Leak - can't tell where air is heading, deep, not out of dipstick either
3 - 110 - 45% Leak - water bubbling when I listen to exhaust manifold hose from thermostat/coolant housing and also #5 spark plug hole (the dead hole)
5 - ZERO compression - 70% Leak pouring out exhaust port
7 - 150 - untested