Hi Jim,
I don't know about the extreme out thrust; I have never needed, or felt a need for anywhere that much. My usual proceedure is to err on the side of out thrust; usually never more than a degree or so. As far as setting the thrust line and the nacells I make the entire nacell sit on the upper surface of the wing with the thrust line slightly above the top camber of the airfoil. With the smaller diameter of the props, compared to what a 40/45 swings, the water clearance is usually fine. Usually my only problem is spray from the hull entering the prop arc. Spray rails usually solve this.
Peter