I have finally finished the conversion and have been testing it out for the past few weekends. Work this summer has been wide open six days a week so it's hard to find time for the LRV working 75+hrs a week. Nonetheless, the ski is amazing!! It has so much more power than it once did with the 2-smoke 135hp motor. I spun the drive shaft out of it July 4th and went with a new shaft. I had it machined where they stretched it an inch which I attribute to "the price of schooling" as my dad would say.
On the water, I still don't know how fast it will go because my nerves couldn't take it once it neared 60 and was still climbing.
It pulled a skier out of the water with no problem although just like driving a fast muscle-car (like a Mustang Shelby!), you can't give it full throttle from a dead stop. The worst problems on my punch-list have been water issues - like making sure the thru-hull boot has adequate pressure on the carbon ring. So far I'm so glad I've done this conversion because to me, it's totally worth it! I love the LRV and this engine is just what it needed. If the motor blows up, it doesn't matter because I still pulled off this conversion not being a gearhead and knowing an incredibly small amount of knowledge concerning this endeavor.
Here is the video youtube link the very first day I had it on the water in a duck pond...
http://www.youtube.com/watch?edit=vd&v=UPX-1w1sAq0
The mods might not like this but I do have another forum with photos at green hulk dot net called "Overhauling LRV with a 4 tec" (the link wouldn't post in here)
I have more pics and will upload soon. See ya on the water!