P365 Repower with Yanmar 3JH5

[martinsouthard]

I plan to re-power my 1976 P365, Hull #30. 
Current power is the original Westerbeke 4-107.
Transmission is a Borg Warner Velvet Drive model 10-17-004.
V-Drive is a Walter model RV-10.
Both transmission and v-drive have been recently rebuilt.
I hope to install a Yanmar 3JH5 mounted to the existing velvet drive.
Has anyone performed this install and/or know of a reason not to try?

[Skookster]

FWIW, the PO of Skookum went with a 4JH3E in about 2006 and it has about the right power for northern currents. If the 3 is smaller dimensions, that would be helpful for maintenance. While you are in there, consider replacing the tank if it is original. Mine worries me though I see no corrosion.
-Tim