If you get serious about getting power out of that motor you can, but you need to find some old guys that raced them, we had one here for a long time, he hasn't been around for 3 or 4 years now though. Do a search for Dhadley, he raced and built them for years, might get some info from his old posts.
The old crossflows aren't the best motors for performance and mileage, but were fairly reliable until a ring breaks (various reasons).
There is far more stuff available for Mercs, but the 3 cylinder 90 wasn't one that people liked to modify, mostly people started with much bigger motors.
I raced motorcycles for a couple decades, rebuilt motors, ported them, built pipes, etc, everything you can imagine...I leave my outboards stock, want to go faster, get a bigger motor.