Your Durango is enough, but you will know it's there.
BTW, I see that you have what looks to be an older OMC Sterndrive. Speaking from experience, you can and probably will have some difficulty in obtaining parts for it. Overall the boat looks to be in very good condition. Be sure to check the drive knuckles. They have an exposed metal fingered gearing which was OMC's solution to not using U-Joints. While they are quite good, they are notorious for wearing and down and in some cases wearing out. Take the time to raise the outdrive all the way up and look from underneath to the drive knuckles. A little wear is normal, if they are like broken fingertips, then you can count on fixing that right off to bat..
I would personally plan on setting aside a few thousand for an outdrive replacement in the future though.. I had a Volvo 280 outdrive and while it was good, it was very expensive to work on and parts are getting harder and harder to come by for those older outdrives. Another thing, good props may be very difficult to find. Five years ago when I still had mine (Wellcraft V-20 with Volvo) I only found one place that still had stainless props and they were practically made out of gold, at least you would think they were for what they were asking for them (Over $500)!
Oh yeah, those older Sea Rays are excellent and back then, Sea Rays were notorious for being very generious on power. In other words, they were very rarely underpowered. In fact, they normally had more than enough and in some cases they were arguably overpowered. I doubt that will be the case here, but even with a 220, it ought to scoot!
You mentioned that the engine was supposedly rebuilt this year. It sure doesn't look like it! Maybe the carb was rebuilt, but the motor sure doesn't look like it and if it was, they obviously didn't spend the time to do it right and make it look nice. Make sure to do a compression test. If that has a 2 barrel on it, you can bump up the HP to around 250 by adding a 4 barrel carb and intake.
Good luck! I too started my days skiing behind an older Sea Ray just like that with the old classic yellow hull..