Thanks for the complements. I'm pretty pleased with the way it turned out. I'll also get some pics of the cable routing/module mounting under the helm. I'm sorry I didn't take any of those.
The pickup has an impeller/paddlewheel type assembly on it. No squirrel cage. They don't want ANYTHING disturbing the water flow over that paddlewheel. So long as I don't hit any submerged logs or rocks, it should be OK.

An occasional leaf may foul it, but that is pretty easily correctable. The unit comes with a replacement impeller wheel. It doesn't really stick out that far below the hull, so I don't see it being all that risky. The mounting setup allows you the ability to pull the paddlewheel sensor assembly out and insert a blank plug (provided with the kit) if you are in tough conditions and don't want to take a chance. Also a nice option for trailering if some gravel or other road debris hits the hull in transit.
I'll snap a few more shots when I go pick it up from the dealer (hopefully this weekend, possibly approaching winter storm permitting). It is no big deal at all, and I think the additional pictures would further benefit our members.
As for the need for this system, I don't recommend it unless you're regularly pulling either a wakeboarder who is into improving their riding and trying new tricks or a serious slalom skier who eventually wants to run a slalom course. A good wakeboarder is running at low speeds and pulling real hard on the boat. (A serious slalom skier is pulling hard too, but it is easier to control their speed because the boat is up on plane more and is moving faster.) Even with a big V-8, this affects the speed quite a bit. As an experienced driver, I can pull my brother on a wakeboard and keep the boat speed within 1-2 MPH for the most part. But, that change in speed happening very often can be very hard and very tiring on a wakeboarder-and also very frustrating. So, it is difficult to become/find a good driver for this type of activity. A bad driver can take the fun out of it pretty quickly.
The whole reason I got the system was to allow my wife to pull me on a wakeboard and only have to worry about driving in a relatively straight line while avoiding other boats. She's not a real experienced driver, so simplification is good and makes everyone have a more enjoyable time. I get to worry about whether the 360 or flip I'm trying is going to put me in the hospital, so that narrows my worries down to just that.
However, I don't see it being all that useful for either recreational skiers, tubers, or for using as "cruise control" when running at cruising speeds. If everything is working right, you should be able to cruise at the same general speed without having your hand on the throttle. It doesn't take many runs for someone to be decent at pulling a skier, either, when it comes to working the throttle a bit to maintain the same general speed. But, recreational skiers don't care about a 2 MPH change in speed from time to time, anyway.
In my mind, the Merc Speed Control option that manufacturers are offering now is a rip-off. FW wanted almost $4K for that option. PP is $1,100.00. The only real difference I could see between the two systems (not taking into account that the Merc option is installed when you pick up your boat) is that the display gauge for the Merc unit appeared to include water depth and temperature. It DID provide the ability to navigate to menus that would give you more technical info about your engine's operation, but I'm not smart enough to understand most of the info it would give me. It seemed excessive and wasteful.
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Paul
2007 Four Winns Horizon 220Mercruiser 350 Mag MPI w/ Bravo III Drive
2004 Ford Explorer Limited (V8-AWD)
Pomme de Terre Lake (Southwest Missouri)