I have a Journey 258, a later version of the 248, and have installed the Lewmar V700. Grady White makes a "kit" that replaces the anchor locker cover with a split cover that is made specifically for the Lewmar V700. I don't know if the anchor locker cover is the same for the 248 but suspect that it is. The vertical windlass makes for a very nice install. It has a much lower profile on the deck than the horizontal windlass. It would be worth a call or email to Grady White to check if the modified cover would fit the 248.
With the V700 on the 258, the anchor locker will accomodate 300' of rode and 20' of chain.
The installation quote of $600 seems to be in the ball park.
Good luck,
D