I have a 2004 Cobalt 240 with a Volvo 8.1.... and I agree with the other replier, "I could not be happier." I live on Lake Washington and keep the boat on a lift out front. It is VERY well covered with heaters inside, etc. to keep things dry. It's a sweet arrangement!
This will be my last boat.... (You would have to pry it out of my dying hands!!) I also love the 8.1. When I was shopping for it, another 240 owner (with an 8.1) told me to BE SURE to get the larger engine... and I'm
very glad he did. I know the argument about gas consumption, but if you are "reasonable" with how you drive, it's really not all that bad. Only at the higher RPM's does it seem to consume at the higher rates. If you have any other questions, please feel free to send me a note... budmanis@comcast.net