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Wow Rick you really got bit by one of these didn't you.
Well,
Not really, I wouldn't call it "Bit" as in "teeth marks" etc...
I just wouldn't buy one now unless I could get it it VERY cheaply.
OMC is gone..... out of business...more than 10 years now.... there's a lot of after market companies out there supporting a lot of parts for the Cobras. there's far less parts for a 460 King Cobra.
Up until recently there was no 460 manifolds or couplers at all. Last year Doug Russell had manifolds for $1400 EACH! and for the last 3 years or so there was NO couplers or alternatives.
AND right now if you "blow" a coupler explosively (I had no idea that could happen), you will not be able to find a replacement flywheel housing easily, if at all......
You probably have thru hull exhaust (most Libs did)......but if you had thru prop exhaust and the Y-pipe corroded enough to leak, and your boat was stored in the water, it would sink..... once you raised your boat from sinking, you'd have to block off the thru prop exhaust on the gimbal and put thru Hull exhaust in it because the Y-pipes are not available except from another boat...
I hate to re-iterate this stuff again (maybe I'm sounding like a broken record.....sorry

)
I don't think I said the King or any Cobra was a "bad" drive, I'm just pointing out what is wrong with them today (especially the 460 King which is not the "same" as the other ones...... ( and, which is why I did what did to my Liberator)
If you have to have that 241, get it as cheap as you can. but once you have it (keep a eng/drive swap in the back pocket for the future)
Also make every effort to ensure that theres no rot in the floor, stringers, or transom....
Aside from all this stuff.........if it runs fine, you will absolutely have a
blast with that thing this summer!!!
Regards,
Rick