OMC King Cobra strong enough for motor

I am currently looking at buying a used boat from a friends friend kinda deal. I am only really interested because it comes with a very nice motor (blown 540 with a intercooled whipple supercharger) and would be a great family boat for Lake Tahoe. The boat is a 1990 30ft Advantage Victory that is in great shape (been sitting for 15 years) but it currently has an OMC King Cobra outdrive. I have been doing a lot of reading on these as the owners flat out told me these are not the best outdrives. I do not know the HP of the motor yet but I would assume it to be above 500HP and is obviously not an OMC powerplant.

So my question is if I can buy this boat for lets say a really good deal how much would a complete replacement of a bravo 1 or other kind of outdrive that could handle this power cost?

I am new to boats but not new to spending money LOL. Just trying to see if it would be worth my time if the price is right. I also have some pics of the boat and outdrive if that helps.

thanks

OMC King Cobra strong enough for motor