KB-
Having gone through the exact senerio you describe I would offer this:
Evaluate what you want out of a boat.
Speed or a good-time lake cruzer?
I changed my 21" open bow/Jacuzzi to an Amer Turbine/dominator pump, straightened the bottom, added lots of HP, and spent a ton of time and money....way more than I should have in hindsite.
I now have a tunnel hull which is a little over 100mph. We have no room in it & Everybody is afraid to get in it. I love it however! LOL But I'm speed addicted.
How much can you expect? I was able with a lot of help and Advice from HTP to get it up to 72 mph.
I think that's about the max you could expect without doing a blown engine.
Hope this helps,
Ken F