Back in the day those boats came with a 3/16" straight drive shaft. That one has a flex drive in it. No idea what to expect from that change. Spreading front sponsons may or may not improve performance - it could cause it to porpoise or it may improve handling and turn better.
I will suggest adding more power to that hull as-is ain't a good idea. My first Crapshooters were that size and with OPS 60's in them would torque roll off the water at 80-90 MPH ~10' high in a very spectacular fashion when the hit the water. They were fast boats with a decent 40 in them.
That old Marine Specialties rudder looks just like one of my old ones. Drilled out the water pickup and epoxied a brass tube onto the trailing edge - did several of them like that. Cast blades, I broke several of them when the boats did the torque roll launches into the air.