I have a 94 Thompson 240. Not all Thompsons are created equal.

Some have a Mercruiser outdrive with anything from a wimpy 4 cylinder job to an adequate-for-calm-water 6 cylinder to a useful V8. Others have a Volvo Penta Duoprop outdrive with a 5.0 Volvo V8. Which is what I have.

Not the biggest V8, and it has the issue that it's hard to tune down enough to troll, but it certainly has enough power for the job. I've also gotten stuck out in 7-8 footers and other than being a miserable ride, never felt in danger. It was a solid no frills boat, that appealed to my folks when they bought it in that it had high gunwales and transom. Maybe it's a bit high to pee over the side, but I certainly appreciate that extra foot of sidewall over the sportcrafts and bajas and such.

I never knew it had issues with the stringers or transom; mine is sound enough, but then it was a generation later than yours, made right as Thompson was going under... dunno if they changed the design or not in the interim, but if it's a known issue, do check on it. Otherwise they are very solid and well made boats, and it's a puzzle to me why they went out of business.