Hull speed is the speed at which the boat starts to climb out of the water on to plane. It's a mathmatical formula described as 1.34 x squareroot of the waterline. Assuming your OA 423 has a waterline of 38-feet, that works out to 8-1/4 knots or so. As Comodave notes, I would expect fuel consumption to be at least 8 gal/hr (efficiency of 1 gal/mile). Drop the speed to around SL = 1.1-1.2 (approx 7-knots), and the efficiency should improve by 15%-20% - around 0.8 gal/mile. In real terms, over the course of 1000 mile trip, you'll consume 200 fewer gals of diesel and save around $800. It will take an extra 17 engine hours (142 @ 7 kts vs125 @ 8 kts), which could be an extra 2-days so a chunk of the $800 may go to marina fees and a couple nice dinners which sounds like a better use of money to me.
I love trip logs - hope you post your adventures. Best success-
Peter