Liability is not as much of a problem as covering the boats main policy. I have a few boats in LLCs but it still depends on the operators experience...
try some different props too. Choppers, tempest, trophy, etc. if you find a prop shop that is willing to work with you to get your set up dialed the...
X2 on Carter Powell's comments! I run a 1300 lb hull weight aluminum fishing boat, similar vee bottom to your rig, with a 150 Merc 4S. Set up similar...