well, better to ask late than never d00d. I presume the question is if you want to spend money to get it more user friendly (read as "less cussing") and potentially better performance, or make the rest of the hardware that will work with what you've already got.
I see you've got some of the straight-shaft/ u-joint hardware already. If you want to work with what you've got, just add an angled strut to match the shafts angle. or do a square drive at the stub, like another u-joint just prior to the strut to allow adjustment. You may want to locate the prop preferably behind the transom some vs. under the rear bottom to help the hull geometry with that motor's "extra" power? just a thought.
You'll want the bottom of the tub to be near level when placed on a flat table with the front sponsons attached, and the rear resting on the bottom of the strut (without turn fin, shaft, or prop installed). pictures speak a lot, so here's one borrowed from rcboat.com to help, it's using a flexshaft setup, but the principle still applies-
or click
here to do some good reading about a typical outrigger setup. you'll have the challenge of limited adjustability and prop selection that goes with that straight-shaft setup (1/8th" straight shaft, correct?)
if you take Chris's advice, which is GOOD advice, you'll need to buy or make a new flexshaft-type coupler, flexshaft, prop, drivedog, and strut along the lines of Rick's picture above. some benefits of the flex setup are prop depth and angle adjustment, and with the more popular 3/16" shaft diameter, a better choice of props. (you could use brass tubing shims on that 1/8" straight-shaft to get 3/16" props to work I guess, so one less thing)
lots of info and pics on this site in pasts threads about small riggers. browse these links below-
http://www.intlwaters.com/index.php?showto...92;.12+hardware
http://www.intlwaters.com/index.php?showto...#092;.12+rigger
http://www.intlwaters.com/index.php?showto...#092;.12+rigger
http://www.intlwaters.com/index.php?showto...#092;.12+rigger
http://www.intlwaters.com/index.php?showto...&hl=firefighter