Finished building a new mounting board! I took some extra time to plan a couple of customisations from the standard board to fix other issues with my outboard setup.
Angle
To get the outboard to sit right in the water, I found I needed to use the very last position for the tilt pin, which prevented the reverse lock from working. My original installation set up the mounting board to be exactly right angle to the waterline. The service manual describes an ideal transom angle to be 12deg.
I've incorporated this angle into a cut on the new plywood board. Hopefully this doesn't weaken it.
Height
When at the correct angle, my outboard just sat deep enough in the water, but would bounce out in anything other than calm waves. I've reduced the distance from the bracket to the top of the clamp to as small as possible. Still tempted to re-drill holes in my transom but will see how this fares.
I've incorporated some ideas from the replies here.
* Used marine ply, epoxied two 24mm boards together, added another layer of 9mm on exposed side edges and 4mm board over face that I cut through at an angle to seal the inner layers
* Coated entire piece in polyurethane, epoxy on exposed edge in mounting holes (plus some butyl to seal the bolts)
* Brand new, completely 316 SS hardware (from Stainless Central - great service!)
* 0.9mm 316 Stainless plate on clamping face to provide extra strength over angle and prevent gouging from o/b clamps
* Didn't do, but still considering adding an extra bolt each side 1/2 way on the bracket
Just waiting on the rain to subside to go out and install it. In the mean time, working on a beefier backing plate to prevent the transom flexing - though haven't seen any signs of cracking when I removed it all.