Bogey,
Todays test had three light people aboard,(175 lb, 120 lb and 100 lb). Since this was only a test trip, I did not have any fishing gear or trolling battery installed. I had a starting battery and 3 gallons of gas in a portable tank.
One of the biggest weight reductions I made for this transition was to empty and remove the 24 gallon built in gas tank. Not only did this lighten the boat, but it also reduced the chance of gas going stale since these 20hp 4 strokes don't use much.
As stated earlier my boat specs state a dry weight of 750 lbs. When I purchased the Yamaha 20hp at Pymy Boat Sales they stated they were averaging about 16.5 mph from their 16 footers weighing 800-900 lbs using the 9.25x8 three blade yamaha prop. I don't think they even try the after-market 4 blade props. Hopefully this info will help you determine where your Lund would fall depending on the boat's weight.
I should note my speeds were measured with my fishfinder's paddlewheel so there may be some error. Comparing apples to apples, the same paddlewheel measured my 40 hp at 31 mph(5200rpms) with same boat load and half tank of gas (12 gal).
I am tickled that I cut my horsepower in half but my speed was only cut by a third.
Jerry