I have an Xtreme Heater installed in between my twin 5.0s and have it hard wired into the 120VAC system, with a breaker switch on the main panel. I can tell you, it seldom gets below 45 degrees in the day where I'm at, but we see lows down in the teens fairly often. The lake never gets below freezing, so I leave the sterndrive in the water, keep the bilge heater (Xtreme) working, the reverse heat/ac system set to 55 degrees and enjoy the boat year round. Last year we used the 292 EVERY month except February during the winter...Every weekend or Thursday (off on thursdays!!) the daytime high got above 60 degrees, we were out on the water...some days when it was above 50, I went out without the wife and daughter, but that's too much for them. With the camper glass, the sun makes it feel like 75+ in the dead of winter.
I am a big proponent of using bilge heaters and not winterizing if you don't expect the daytime highs to get much below 45 or 50. We do get a good number of ice storms down here but the longest power's been out is 2 days in the last 4 years, and the temperatures just weren't enough for the bilge to get below 40 even, but less the engine itself.