A small chevy V-8 will bolt in on the same mounts as I understand, COULD need some more room in front of it tho for the extra 2 cylinders, measure carefully before jumping. Just depends how close to the pulleys your engine area is. I suspect it'll fit as the SBC was likely a factory option.
Yea, it'll burn more gas, but shouldn't a LOT more,and I would go to a 350, no smaller, just to make the step worthwhile. Be ready to have to spend time re-tuning props too. The V-8 will be able to use a lot more prop than the 4.3L. If you plan on skiing 2 at a time (let alone 3), go V-8 IMO.
Also you will likely need to think about expanding the air inlet to the engine comartment, to insure the V-8 gets enough air to breathe. I have seen some pretty cranped bays arround the 4.3's... and I have seen some run better with the cover open than shut (that's pretty damn restrictive to me).
The cost'll likely be more as you will be replacing the entire ignition and fuel metering systems. IF the 4.3 was not FI, ther are a LOT of current comon occurences of hot-run-on with them that I have seen the last few years, on many boards. IMO they are pushing the V-6 just a good deal harder than they should, and it is showing up in vapor-locking, hard hot starting, hot idle stalling, etc that I have seen folks have trouble with. Thus, you may, once it is figured out, have less annoyances and agrivations from the V-8.