Elliot,

Commercial fishermen did ( and some probably still do) that for
decades, mostly with old heavy 6 cyl. truck engines. It is an
interesting thing to play with. Don't know if a Camero is a good choise
or not. I hear you can build a hell of a boat out of a '51 Chevy
pickup.

The Mercruiser is probably a better bet for normal use.

Ron