Re: Fuel usage
An average of 5 GPH is actually pretty good for a small block V8 in a boat. Maximum gas mileage will be around 5 MPG at 25 MPH, which is 5 GPH. Average will generally be lower than that. So if you're averaging 5 GPH you're doing real good, once you include some no wake zones, a few high speed runs, etc.
You will see some posts by people who claim to use much less fuel than you do. For instance, they'll claim they use 1 GPH. What this means is that they run for an hour going out, park the boat for 8 hours, then run for an hour coming back. So since they burned 10 gallons in 10 hours, they therefore averaged 1 GPH, right?
Boattest.com has actual fuel consumption tests of lots of boats similar to yours. Oldest ones are only a couple of years old, so no Fords (if yours is a 302 it's a Ford), but if you look you'll see that the current 5.0 Mercruisers (GM 305 engine) get their best gas mileage of around 5 MPG at just over 25 MPH.