I replaced a 5411 in my 79 model with a M3-20B universal. It is a 3 cylinder 20hp model. The engine bed had to be cut down about 2 inches in the rear and 1 1/2 inches in the front to get clearance for the seat. I dont know about the size difference between the two motors. You can check with the folks at Marine Diesel Direct for specs on both. They will even sell you one!
I repowered my 1981 Cat 30 with the M320B also. It is more power than you will ever need. We did not have to alter anything, it fit right into the space. Make sure you put in a new shaft and propeller. Good luck.
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