You're about 100 pounds off the displacement of the Independence 31, so I'd say my experience will be close to yours. I originally had a Yanmar 2QM15 in her. This was rated at 14hp continuous operation and 15 hp short term peak, and was really not enough to have any reserve. I could cruise around 5.5+ knots, but if I needed extra, had sea state, even a big wake, she would loose headway. I repowered with a Yanmar 3GM30F. It is rated for continuous operation at 24hp at 3400 RPM, and 27 hp for an hour at 3600 RPM. I cruise quiet comfortably around 6 knots at about 2800-3000 RPM, and have plenty of reserve (If I kick her up to 3400+, I move right along at something in the 6.3+ knot range, which is now hitting/passing hull speed). I would have to say this was a 100% satisfying repower on the results. I didn't have any particular engine in mind when I picked up the 3GM30F used, and had been looking for Universal engines as well. I think you would be fine with either, however, I will say I have been impressed with what seems to be very solid reliability out of the Yanmars, and they are easy to work on. My one complaint is the parts distribution is locked down tight, and you will not find any bargains, and some of the parts prices seem a bit steep to me. Felt like I was getting bent over on a thermostat and temperature sending unit I replaced a season back.