Keith, Good Luck with the sea trial tomorrow. Regarding Carb vs Fuel injected it depends on the model# of the engine. I attached a link to the VP site showing the engines produced by size and year, and you can click on an engine to see it's spec's.
It looks like in 2003 they offered the 5.7GL series, which I believe is Carb; the 5.7Gi series, which I believe is Fuel injected, and the 5.7OSi series, which I believe is the Ocean Series Fuel injected. Hope that helps. Here is the link to the Volvo Penta site:
http://www.volvo.com/volvopenta/global/ ... ngines.htm
Note: since the web address is too large for the space above, you will have to copy and paste the entire length of it into your address bar on your browser. If it does not work you can just search for Volvo Marine Engines and follow the site map.