It does have a 454 but it's a heavy engine.
A change to aluminum exhaust manifolds like something from stainless exhaust will drop almost 80#
An iron short block LS motor is about 130# lighter than the BBC. Put aluminum heads on and add a heat exchanger and you drop 60#-70#
What would such a swap do to the value. If I get a new LS3 from GM it serves it would be a plus.
It will drop the value. Because Mercruiser does not use LS or LT series motors. So the next buyer has to be a gear head to appreciate any perceived value. But that value will only be about $2k at most (assuming you do not use the boat after the swap). No where the expense you will insure doing a proper marinization of an LS
If you want to do it for your self, that is one thing. If you want to do this thinking the next guy will pay enough to recover your costs ..... Won't happen
I would gain 130hp, more torque
Some mild head work, a cam change, and good flowing exhaust and that 7.4 liter will have more torque than the LS
Remember, you can not run street cams with wet boat exhaust. So any published HP/Torque gets adjusted down for a cam with no overlap and wet exhaust