I currently own a 92 chaparral with a 7.4 Yamaha I/O. I haven’t had a problem with it yet and just done it’s anual service but want to move on from it so I do t have to deal with a part issue later. Just there’s some Four WINNS that have popped up at fair value that have 5.0 cobras on them so just curious.
It really depends on what year and model
for example:
the best would be a '94 and newer with the joint venture drive (really the same as a Volvo) and a GM carburated engine.
The Ford engines aren't bad if carbureted but the EFI parts and some ignition parts can't be found. So you could wind up with a Ford EFI system that when it breaks, can't be fixed, then you'd have to convert it back to a 4bbl carb, and maybe have to change the distributor as well. A deal breaker? Well not for me, because I can source the parts, & do the work, but if you don't do your own work, that is a deal breaker.
Honestly I had good luck in fact VERY good luck with my 1988 4.3-4bbl Cobra. Used in salt water 100% it has really held up well.
But I have a garage full of OMC spares, and an OMC shop manual and I know how to do the tricky OMC dog clutch shift cable adjustment myself.
Many boat repair places will not work on the stringers and many won't work on the dog clutch Cobras either. You can't just go to the local marine shop and buy OMC parts, you have to look around, sometimes the best you can find is used freshwater parts.
Wanna make your life easy? Go a few years newer, go with a GM carbureted engine with a Mercruiser Alpha drive. Parts are everywhere, and any mechanic can work on it.