Re: outboard fuel consumption.
If you were talking about a small boat that would plane out w/a 5hp, you'd get way better mileage from a 10 hp at 1/2 throttle. But since you're just pushing water, my bet would be on the 5hp using less fuel. Consider a power, or 'high thrust' prop to get your motor closer to optimal rpms as 'lugging along' isn't efficient at all, with either motor choice.