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That's a great photo, Fuji!
Thinking this was taken in 1980 or soon after. Reggie retired from tunnel boat racing at the end of 1979. He was driving a Seebold at the time and blew over in September, I recall. This photo shows that he must have kept one of Team Mercury's previous mid 70's factory Molinari's and matched his first offshore Executioner 10m paint colours to his personal, and well-known, red, white & blue.
...Yes, the older Mercury cowling dates things as well. Can't see the nose of this first Fountain either, in this photo, which DID NOT have the later tooled/added Fountain pointy nose. The first few hull & decks were supplied to Reggie, as-is, directly out of Bill Farmers Sarasota Florida 31 Excalibur molds, & then rigged up north by Reggie as Fountain & Garbrechts Boat Company boats...