Me personally, just drain the block....My 5.7 has 5 thumbscrews and a couple of hoses here and there to pull off, seems simple enough to me. I run in freshwater only so rust/corrosion is less of a concern. My engine is a 1997, I just recently pulled one of the manifolds and inspected the water passage ways and all looks well. Bondo has it right, air doesn't freeze. Even the Merc manual just makes the suggestion that you can add tap water and antifreeze. However, you have to be damn sure you mix it right and to the appropriate temps. And then you have to run it into your block via your thermostat, which it is recommended you replace your thermostat gasket at that time also......seems like a lot of extra work and risk for very little reward to me.
I used to broker boats as a side hobby and dealt with hundreds of boats, clients, mechanics etc. Every time there was a cracked block it was due to someone running water/antifreeze into their block. I NEVER had a mechanical inspection of a boat/motor and had the inspector/surveyor come back to me and say the block is rotting due to air being in the block during layup. Never.
If it makes you feel better, throw whatever you want in the block, just know there is next to no benefit in it.