The 231 is a 4 port motor, the 23pum, 230 are 2 port motors. The 260 and 231s are the "newest" Of the 4 port motors in the marine motors.
THey both perform well, stock or moded.
The 231 revs higher than the 23s stock or moded.
231 verses the 260 STOCK, run both the 231 will out rev the 260. thats the stock engines. Mod the 260 and LOOK OUT.
I Still run a Mod 23 motor, They can put out some power, but moded 23 cylinders cant take hydro locks to much, weak cylinders when moded.
Check the carb insulator block, make sure gaskets are good, and that the block is not warped. Sand it lightly on flat surface to be sure its not warped.
I would check the carb screen inside, make sure there is no dirt in it.
You should take apart and replace gaskets, and ring as when they are run lean and over heated the rings get weak.
I would watercool it for sure for boat use, as they will get hot.
You probably got the 167 carb on there, So I run about 2 on the low side and 1
1 1/4 on the high needle. Also I run 8oz of oil to gal of gas.
DOOOOOOOOOOOOOO NOT USE CHAMPION PLUGS. NGK ONLY. Champs will break on you and damage motor.