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1985 Checkmate Exciter I/O

Been a few years since I posted and been on the site since I sold my 89 Senator.
Getting the itch for another boat and been looking at a few. Wanted to get some opinion and education on one that I'm looking at. It is a 85 checkmate exciter I/o. What options did these come with? I'm thrown off a bit since this one isn't like another I seen. First I was told it had the 305/260hp but from what I know only the 350 had the 260hp back then. It has the 4 barrel carb and intake which I don't believe 305 came with. Next it has thru hull exhaust but it is actually up high and the hill is molded for it which every other I seen is not. It looks to be a factory option and not home made. Would a 305 come with 260hp and thru hull exhaust?
Overall condition as of now is good. Owner had floors, transom, stringers redone. New carpet and interior, mechanical kept up each year as well. Boat had new risers on it and owner said the dealer he got them from said they don't make the factory height anymore so these were a little taller then before. Down fall is the deck wouldn't close so they cut to small 4x6" or so holes the risers sit up in flush.
Boat is water ready and been used every year. Only part holding me back is they had the boat clear coated and the job was not done right. It is very faded and flaking clear. It is dark blue with silver flake that looks to be cream color now. I had to wet sand and buff my 89 and it was no walk in the park. Knowing this was cleared has anyone ever used stripper and pressure washed it off then just buff it out?

Opinions on the options and overal boat? How do they handle compared to a senator or 21'? What's a boat like this worth in the condition it is now? What is it worth shunned up and nice? Not many around I see so I'm not sure if that is good or bad.
 
Too much work to try and fix that clear coat when it is possible to find one that has shiny original gelcoat.

260hp is a 350ci, but what says the motor is the one it came with? I would not be happy with holes cut in the engine cover and manifold risers poking through.

Even for free. as you can get a really nice one for $5-7000 if you look. Enchanters are 2 ft longer and more easy to find, should consider one of them too.
 
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