Son and I own a 2001 265. Purchased in 2010 and repowered with 2011 Merc 225 Optis counter rotation swinging 17 pitch 4 blade Rev 4's. Initially had 3 blade Mirage Plus but this boat is wide and heavy and bow steers badly (more on this coming), ventalation problems in very rough water offshore. First impression on first few offshore trips was like " what have I done, big mistake, what is wrong with the steering or is this hull warped or what!!!! LOL Lots of reading here and on other forums about this model cleared it all up. The hull has a very agressive bow v and hence she bow steers badly. Having never had a boat like this I was clueless. The cure, ding ding ding is RAISE THE BOW. You have to develope a new learning curve how you come up on plane. The Rev 4 props aid in lifting the bow. Right as you bring her up on plane, start to trim the motors up. BE CAREFUL though because you dont want to have the cowls hit the transom gate. This will further bring the bow up. This hull also in my experience as well as what I have read others post hates trim tab abuse, ie use the tabs sparingly. Remember keep it up, the tabs push the bow down.
After about six or eight trips (about 60 miles each way plus 6hrs trolling) I can say this is the absolute best boat I have ever owned. To get it from me will require prying my cold stiff fingers....well you get the point. No hull slap, no pounding. Rough water dream, even when short second period waves are the norm for the day. Re-entry should you launch is like falling into a dumpster of feathers, no kidding. you expect a WHAM but she just softly lands. One odd caveat though...when cruising at speed, make sure the crew remains in their seats. She is very sensitive to weight distribution paricularly when it changes. Minor tab use will correct though. The cockpit is huge even in comparison to larger boats. Good storage. Cuddy is sparse compared to say the 28 or thirty foot Gradys. This is what rumor says killed this model. Wives compared the price tags and saw more "homey likeness" in the 28 for the same $$. The 265 is more hardcore fish express style boat. Very wide for a 26. Too bad because it was ahead of its time by just a couple of years. Look at how many express style boat you see now. Pardon my digression.
Anyway the ride to say the least is great. Poveramo at Salt Water Sportsman Magazine I think said that the ride in rough water actually improves the faster you go. I have to agree, although I am still getting over this contradiction in my mind (I can't help pulling the throttles back when I see really big waves ahead). Steerage in following seas is better than most boats I have driven. Outboard boats never fair well in following seas, its just the physics of water passing the skeg in the wrong direction. Economy with my present setup yeilds between 1.5 and about 2.2 mpg at cruise, roughly 28-33 mph. I consider that pretty good. Optis are louder but they get up quick and top speed in good water is about fifty.
All in all I made a great choice. I fish alot offshore and mostly troll. The boat fits me to a T. I enjoy this boat. I cannot really think of why I would ever trade. There are a few mods on this forum that can make it even better. PM me and I'll fill you in. Get the boat, you'll love it.