In 1985 and 1986 the four barrel 470's were called 190's and horsepower was rated at the crank rather than the prop. I guess sometime after that they decided to change the way I/O vs. Outboards were rated and in the end made both rated at the prop. I believe that the outboards rated horsepower was always at the prop unlike the I/O's In 1987-1989 the four barrel version of the 470 became the 3.7lx 180hp which was the determined horsepower developed through the drive and at the prop. I guess a drop of 10hp. As for the two barrel versions, I think there is 170 and then 165 respectively. I think the hp rating dropped 5 hp with the two barrels. You said the 3.0 engines produce 130 horse at the prop so you have a difference of say 35 horse with the two barrel 470 and around 50 horsepower with the four barrel. Note these hp ratings were done with engines that had points and condensers,rectifiers,no electronic igniton so there may be a few horse to gain with all of the upgrades. You mentioned torque. I read a thread awhile ago by an old timer and he stated that max torque was attained at around 3800 rpm if that helps. However, I have searched high and low to find any information about maximum torque output numbers . Are you sure you are getting enough fuel to that engine with all that plumbing and water seperator you got on there. Also, the ratios for the 470 vs. the 3.0liter are different as you know already. Are you able to attain wide open throttle with the engine that runs properly? Just trying to stir up ideas that's all. Hope you get it working, best of luck, Tom