How far above the keel centerline are the bottom of the two transom splashwell drains?
I would anticipate that the static waterline at the transom should be just at the bottom of the transom splashwell drains. That position lets the drains actually drain water in the splashwell into the sea. If the waterline is higher, the "drains" drain the sea into the splashwell.
I recommend you read my article about the OUTRAGE V-20 in the REFERENCE section and view the illustrations that show a stern view of the boat. There you can see that the transom splashwell drains with static trim are above the waterline.
REFERENCE: OUTRAGE V-20http://continuouswave.com/whaler/reference/V20Outrage/
As this boat demonstrates, even with a heavy, 200-HP direct-injection two-stroke-power-cycle engine and
an auxiliary engine on the transom, the static trim of the OUTRAGE V-20 at the transom maintains the transom splashwell drains above the waterline.