Richard, of those three XS motors you mentioned the 175 should be the most efficient since it's a small block. BUT you should have a faster "max efficiency cruise speed" with the 225/250XS since they are big block motors and will swing a larger pitch prop through higher gears (1.87s for the smallblock vs 1.62s with the big blocks). The thing hurting the 175XS is it doesn't have solid mounts and a Sporty case. If they did I think you could run 80ish fishing with it on a 2003. (200EFIs with coned cases usually ran low/mid 80s on normally loaded 03s.) Fellow Aowner member Dennis "TN XB21" Kenny has a 2nd generation 175 Opti on his 21 2+2 and it runs 69-71 gps solo loaded. That's with the stock case as well. The boat would drive MUCH better if we could raise the motor up and would allow the more trick props to work better if they were being surfaced. I think mid 70s would then be very do able.
I've already ran 87.9gps with my 225XS/21 2+2 solo fishing in the winter time. (I've run 85 2man summer load a well) My stock Sporty looks like it was shaped by my 8 year old. A lil tweakin and some more playin should yield 90gps when "everythings perfect" and the stars align, Mars is away from Jupiter and I lay off the beer and hotdogs! I can't help but think the same motor would run easy upper 90s on an 03. These things are TORQUE monsters and would swing a big prop on a light boat like the 03. I have a couple hours over 50 on my motor now and I've only bought oil 3 times since owning it. I might nickname it "OPEC" because I swear it makes oil. Fuel mileage is pretty amazing as well. I typically fish Pickwick and KY Lake and will go 3-4 trips on one take of fuel. That's "easin around/cruisin" instead of WOT long tournament runs. But still compared too the same trips I used to make with my 225SS/03 the mileage difference is considerably noticable.
The only downside on the 225/250XS on an 03 is the warnings Darris advises against doing so. They take a good deal more setup, pad work and playing to make them really work right to get the max out of those big blocks on the 03. Personally I'd try to scour the used/NOS market for a 200XS or 2.5XS to hang on the 03. If your dealer is a goodun and you trust him you might could talk them into a Sporty and mounts and hold your breath on a warranty claim!
Regardless which motor you get, any of the XS motors is da chit when you hook them up with Smartcraft. The system is just amazing and allows you to see where the rigs true efficiency is "on the fly"! :gone fishing
RA