A 200 Ev runs about 380 pounds dry (so almost 400 with prop on it and the gearcase full of oil).
Your 175 should run in the 350-360 pound range dry (depending on exact model) + 10 or so pounds for prop/gear oil.
So you will add a touch of weight, maybe 10%.
At full throttle the 200 will burn about 20 gallons per hour. It's sweet spot is at about 2/3's throttle and will burn somewhere in the 12-13 gph range.
As a comparison your 175 would normally burn 17 1/2 gph at full throttle and maybe 11'ish gph at it's sweet spot. So as a "rough estimate" you would burn roughly 10-15% more fuel with the 200 if you use it the same way that use your current motor.
One thing you would notice is how much "bigger" the Ev will look. The 86 200 is a 90 degree looper, so the cylinders are offset 90 degrees to each other. The Merc is 60 degrees so it is alot "slimmer".
On a personal note. Given the option of those two engines, I myself would opt for the 200 Ev. Not because it's more horses, but I really like that model. I have an 86 140 Ev which is essentially the same motor as the 200 but in the 4 cylinder version. Although Merc has the superior ignition, the OMC's is fine, but I really love the carbs - nothing to set/adjust/fiddle with etc. All the jets and ports are factory machined and simply screw in.
Plus that "giant" looking powerhead hangin' off the back just looks "mean"
By fiddling with the mounting of my motor (many trial/error "tweaks" on a 6" jackplate, using a flow flow meter to measure the change) I have been able to get it "sipping" 6 gph at cruise speed, which is somewhat less than 50% of max fuel usage (if I crank it right up - and these 90 degree loopers have a ton of guts).
So if you want to "yahooo" up and down the lake, the 200 will definately "blow your hair back", but she will also be reaching into your wallet to keep the "shrinking gas tank" filled.
(should have added - my 140 is fed by twin 40 gallon tanks. They last a long weekend of mixed use, upwards of 15 hours under power - I run canal systems so sometimes tearing across the lake, other times sticking to the no wake 7mph (10kph) canal limits. Running "full bore" the 140 will drain those tanks in a hair over 6 hours (I've tried it) - the 200 should be about 1/3 less efficient - so in my case I would get 10 hours of mixed run time and maybe 4 hours of full tilt running with 80 gallons of gas - which today in Eastern Ontario is selling at $4.46 a US gallon