Re: closed cooling system
You're on freshwater...you don't need a closed cooling system. I have the near identical boat/powertrain as you. I can drain my engine in less than 3 minutes. AIR DOES NOT FREEZE! Why do you want to spend money on the complexity of a system that was designed for saltwater boats? Especially given that in spite of the claim that your engine was rebuilt ten years ago, it may still be the nasty, rust scale filled block from 1987. If you wanted to do this "correctly", you would need to have the block, heads and intake manifold stripped and sent to a machine shop to be boiled, baked and blasted clean. That is the ONLY way to get the rust scale out completely. So at that point, you are effectively rebuilding the engine. What you are considering start to finish is a $4,000 exercise in futility for the sake of what? Easier winterization? If you are that averse to winterizing yourself, pay a marina to do it. For the cost of a rebuild and closed cooling system...you could pay to have that thing professionally winterized for a decade or more.
Just open the drains, pull the appropriate hoses, and let it air out.