Limited Horsepower - do I think there is an advantage with a faster boat - sure. Do you need one to win - no. First T I cashed was in a 40hp Tracker Alum. against 100. 150, and 200 hp and up. Your strategy has to be different. Stay close, figure things out close to home.
I personally like this format because it really forces you to use a different strategy then the fish for 5 big bites. More of a thinking T. Sure you can have good fish far, but is it worth running all that way??? Maybe???
As for burning gas, it is not a cheap sport. You don't have to burn a lot of gas, that's up to you. If you asked me if you need to burn more then $20 in gas to compete in this T, the answer is no.
Thought about it and I am not sure how this T format would be anymore less environment friendly then others.
Give it a shot, I've seen your bass pics you can obviously find'em and gett'em in the boat.