Such emotional involvement.. I can see why. Personally, I don't want to see a fixed speed limit. I'm nervous enough watching my heavy foot on the highway. On the lake, I have plenty of other things to look at (scenery, other boaters, etc.) to be checking over my shoulder for our local LEOs. I would be in favor of increasing the minimum distance before supporting a speed limit. If Joe Schmo wants to take his Fountain or I want to take my Sea Doo 60mph through the Broads, far away from shore or other boaters, I don't think that's the law's business.
As for the viability, I don't have the facts or numbers, but I would rather that the Marine Patrol hire more officers than incur the expense of all of the equipment + training + calibration + court costs. I would guess that the total expenses would be able to cover quite a few salaries for seasonal officers. If anyone wants to support or challenge that with numbers, please do so.
The issue of enforcement with regards to catching the violator also came up. My two cents on this is that it will be difficult considering that boats, unlike cars, don't have rearview mirrors with which to see the flashing patrol boat. If I'm railing down the Broads on my jetski, there's little chance I'll see a patrol boat behind me and little chance he'll catch up. Then there are people who would be able to run and willingly do so. There are plenty of PWCs on the lake that can top out around 70mph... just trying to take a realistic standpoint. Ask any state trooper about pulling over people on sportbikes.
Anyhow, watch out for me in my canoe and I'll watch out for you on my PWC