You would be much better off using an in-line 4 cylinder 200 hp if you want to stay with Yamaha. It's about 100 lb lighter than the V6. The rap on the in-line 4 is that it doesn't have the torque of the 6 cylinder. But your hull doesn't require as much power as the newer SV2 models. Compared to your 115, you will think you are rocket-propelled.
I had an original Overnighter back in 1975. The power options were 115 or 135 hp 2-strokes. Mine had a 135 and it would cruise at 25 mph and top out at 35 mph. It was sluggish with 4 guys on board but would stay on plane just fine. I repowered with a 150 hp 2-stroke and it had plenty of oomph.
Nowadays, everybody thinks that you need a ton of hp and that boats should top out at 45 mph or better. It's a waste on the 204C since that hull doesn't like to go fast. 150-200 hp will be plenty of power. You might also check out the 150 hp Mercury, which is cheap and has established a good reputation for reliability.