I replaced the Holley 2bbl 500 cfm(flows about 370 cfm when flow rated like a 4bb) with a Holley 4 bbl 650 Spreadbore on my VP 5.7. It raised my rpms by about 500 - 600, requiring repropping and potential loss of Hole Shot. Very Small Primaries reduced the Loss considerably.
Intake didn't need changing as Volvo used a very good 4 bbl Intake with both 4 bbl carbs and 2 bbl carbs. I prefer the Holley over the Edelbrock/Weber/Carter carb, but others here may have different opinions. If you use the Edelbrock/Weber/Carter carb, make sure to get an Intake that is for a Squarebore Carb. Good Adapters are rare, and the more common ones are horrible.
The 650 is way more Carb than a 5.7 needs unless it turning around 7500 rpm, but the Vacuum Hollies, and the Edelbrock/Weber/Carter carb, will only open as much as needed. Stay away from the Double Pumper type carbs, unless it is a Drag Boat.
Boat engines operate under different Conditions and Parameters than Passenger Cars/Trucks/Race Cars, so what works in one application may very well not work in the other. You just can't drop in a Cam Grind that works well on the Street, or the track, and fool yourself into thinking you are going to turning the surface of the water to Steam. You might be lucky to even get on Plane...