Mercruiser discontinued the 7.4 (454ci) @ 300 -325HP (depending on the year). The interim engine was the 8.1 (496ci) @ 375HP (which also came in an HO @ 425HP). They were also releasing an 8.2 (502ci) @ 430HP. The 8.1 HO and 8.2 were really competing for the same market. They then discontinued the 8.1 (496) engine.
They ended up replacing with 8.2 (502ci) @ 430HP. The 6.2 (350HP) was a logical replacement, as it was between the older 7.4 and 8.1. However the cost of the small block was an appealing option for boat manufacturers. In a Bravo III application, the 6.2 is 362 lbs lighter and only 25hp less than the 8.1. (still 25-50HP more than the 7.4).
It was a logical choice to move in that direction. For a mid-sized cruiser in the 32 - 36ft range the 6.2 is a really good option.
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