Not entirely sure why this old thread came up again, but the original C Dory 25 "Cruise ships" were powered with 90 HP Honda (~1.5L). The hull is the same as current C Dory 25, but different cabin layout--and maybe a few more lbs weight??.
I believe that all 6 of these were repowered before the 90 hp failed; most to the 150 Honda. They just did not perform above 11- 12 knots and the owners didn't find this satisfactory. When you are not on a planing stage, and pushing water, the fuel economy will be poor.
My 25 had the Honda 130 (same block as Honda 115), which was a ~ 2.25 liter engine, and although it was marginally OK when light at sea level; when loaded for cruising 17 mph was about the highest reasonable speed one could achieve. One had to severely drop the pitch if the boat was at Lake Powell to get reasonable performance. Based on my experience, I doubt that the smaller displacement 115 HP Merc would do any better than the 130 HP honda.
I believe that it would be a mistake to power a 25 with anything less than 150 hp.
As to Foggy's statements: For a very large number of outboard powered planing small boats, there is certainly a consensus of the min and max hp for each of these boats, and it is a fairly narrow range.
Over power the thing and run the engine for long periods at fewer rpm
than the Mfg recommends and you'll have unwanted engine repairs, maybe
from not getting up to the recommended operating temperature.
Certainly we all agree that getting the engine up to operating temp is important, but, at least in our waters, that is easily achieved at a high idle. I don't recollect seeing documented "fewer RPM than the mfg. recommends" on outboards. The modern 4 stroke outboards which get the 5000 to 9000 hours time before failure are engines which are run daily, and a fair part of that time is a idle or low speeds--as used by harbor patrols, Coast Guard, and charter fishermen (trolling). For diesels there are recommended run specifications as to min. RPM, as well as Max RPM. I have run both NA and Turbo diesels at lower than those RPM's for thousands of hours with no ill effects (but the engine was up to op temp, and I did occasionally run the RPM to max rated to be sure that there was no evidence of carbon build up.
Of course you could put one of the "big foot" 8 to 15 hp and live with 5 to 6 mph, or just use the kicker for this, and still have the 150 for times you want to go fast!