I'm not sure about outdrive compatability and strength. I've always worked on straight inboards.
The issue with diesels and marine transmission ratings and strength is that they all have rpm vs strength ratings. While thay may appear to be able to hold up, you need to look at the rpm you will be running at rated hp ... which will be lower than the gas engine. That is what may tear it up.
Of course taking it easy will make it last longer.
I would say get the biggest capacity outdrive you can find.
BJ,
What HP 4bt are you considering... something like a 130 from a bread truck that you will marinize, or a marine rated engine like a 150?
One thing that is pretty critical in a marine diesel is to make sure you gear/prop it so that you get the goverend rpm (plus a little) out of it at WOT when it's loaded up. Otherwise it's life will be severely shortened.
A marine engine is always under a load and that's tough on them if you are overpropped.
My marina neighbor removed twin 350 Chevy based gassers rated at 250 (or 260) hp each and replaced them with 4 cyl Yanmars rated at 170 hp ea. His comfortable cruise speed dropped maybe 2 knots, but his fuel consumption dropped drastically... he uses about 1/3 the fuel he used to at cruise speed.
This may act a a guideline for you in planning.
Hope this helps. Sounds like a fun project.
Feel free to e-mail me at -- email address removed -- if you have specific questions that I may be able to offer some help on.