I have a 1994 Explorer that had a 250 Yamaha SWS engine and a Yamaha 9.9 4 stroke kicker. The 250 needed a rebuild, so I had that engine removed, had the 9.9 removed and bought a new yamaha 300 hpdi. The 250 weighed 500lbs and the 9.9 weighed 90lbs. The new 300 weighs around 570lbs. The 300 has been great for my boat. I have a hardtop, also. I think the 300 is a great engine for the boat. I realize the 300 may only have 275 hp, and the older, carbed 250 yamaha was also real good for the boat, but I wouldn't be afraid of a 300 on yours. If I had to do it again, and I was buying new, I would probably get an etec, but I am very happy with my 300hpdi.
I wouldn't want anything less than 250 on my boat, as I would feel the engine might be worked too hard pushing the boat. You might be able to find a 300hpdi, used, for cheap. If you do, make sure it has all of the updates, and checks out good with your mechanic. Hope this helps.