XStlhdr,
Another quick comment on power. I understand Grasshopper's reasoning above but it isn't accurate (don't mean to disparage you GH). I had a 14' boat that had a 20 Merc prop on it that was quite fast. I changed it to a 40 hp head/28 hp at the shoe jet, and it was not as fast as the 20. Power at a prop and power at a shoe can't be correlated to speed in the same way due to how the water exits each. A prop pulls the boat through the water, a jet pushes it. Because of this, the horsepower is used in two separate ways and you are trying to compare an apple to an orange.
As far as this setup working on the mod-v Lowe jonboat, I just looked at those at the Sportsmans show out here with a friend who needed a new boat. They have a little bit of v built into the nose and are flat as a pancake in the back. This is identical to my boat that I jetted. You will find that the mod-v is a joke once you are on step. The entire v part of the boat is out of the water and you are riding on the flat bottom. My boat used to porpoise if there wasn't any weight up front. If you can, throw your battery and tanks in front of the center seat to help resolve this.
This will be a Very fun setup when you are done. I miss mine frequently.Good luck,
Steve