On any comparable boat and depending on the prop size/pitch, a given RPM will give you given speed. You are cruising at 8.5 knots but are using only about 50 HP.You'll maybe get 7 knots downhill, probably more like 6.5. Pretty old engine.
I have twin Cummins 210 turbos in mine and cruise comfortably at 8.5 knots at 1600 revs.
My GB36 with twin Lehman 108s (according to Brian at American Diesel) recently ran out to 13.8KT SOG at 2400 RPM. I did a reciprocal course and got about the same, so current wasn't a significant factor. That said I wouldn't want to be running it "on the pins" all the time. I should add that we were moving from one yard to another as part of a refurbishment and she was VERY light.I ran a GB36 up the river system from the Gulf of Mexico to Lake Michigan. I had a single Ford-Lehman 120 HP engine, which is what I am thinking you have in that "110 HP engine." For places where you can expect 1-2 knots tidal currents and if you are happy at 7 knots, this is ok power. However, for steady 4 knots +/- on the nose going up the Mississippi, it is not sufficient IMHO. After that rip I vowed I would not attempt up current river travel in anything that cannot make 12 knots in still water.
Must have been very light indeed. That's a frankly astonishing SOG for not a lot of Mr. Eds in a GB 36.My GB36 with twin Lehman 108s (according to Brian at American Diesel) recently ran out to 13.8KT SOG at 2400 RPM. I did a reciprocal course and got about the same, so current wasn't a significant factor. That said I wouldn't want to be running it "on the pins" all the time. I should add that we were moving from one yard to another as part of a refurbishment and she was VERY light.