it is good to see a new project starting...at 45hp. It sounds like you might have a 2002 vintage? What style of redrive are you thinking of using, and ratio? Depending on what year of motor. The max rpm is different.. 2002 is 6000. & in 2003 they changed the camshaft and exhaust. the rpm went up to 7000 and 53hp. A closed loop system for cooling would be simple. most of the big boats place the radiator below the motor, all you would need is a air vent at the top of the system to get rid of any air... if that doesn't keep it cool enough. one could alway place a temp disc on the radiator, that would turn on a electric fan when needed.... as for the crankshaft is it tapered or the flange style? It will be fun to see some pictures and hear what ideas you have up your sleeve...
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