The later Johnson/Evinrude/Gale/SeaKing V4 60HP engines are a slightly modified and improved version of the Fat 50.
The differences in the 60 are:
A slightly lower piston dome with a smoother profile - to fit the new "power dome" heads
"power dome" Heads with full water jacket cooling. The combustion chambers on these were contoured to fit the piston crown more tightly. The Fat 50 had open chanber heads like the Big Twins had.
New V block & "finger" reed system replaced the horrible "daisy" reed system of the Fat 50.
Minor revisions to the carburator - mostly, a new design throttle plate cam, and some air/fuel circuit tweaks.
The Fat 50 "football" lower unit was promoted as the "heavy duty" gearcase and came on the "commercial" edition engines. It was also available on certain other models. The "jetstream" bullet nose lower unit became an option, and was standard on some models.
In 1968, the "60" got upgraded to 65 HP. This engine had CDI solid state ignition that was no longer belt driven. I suspect that the exhaust ports may have been enlarged slightly - helping to give the 5 extra ponies.
All incarnations were 70.7 cubic inch displacement, and used the same crankshaft and engine block. The Starflite/Seahorse 75hp of 1960 used larger cylinders & pistons to produce the additional 15 ponies from 89.9 cubes. The 75 block was the same as the fat 50, excepting that the cylinders were larger. Not simply a Fat 50 bored out. The cylinders were actually cast larger to create more cubic inches. The heads and pistons will not interchange with the 50,60, or 65hp engines.
The 75hp carburator had fixed main jets, and the venturis were slightly enlarged.
The 75 gradually was boosted to 80hp then topped out at 85hp in 1968. These power increases were due to minor tweaks in porting and CDI ignition in 1967 and 1968.
All incarnations of the 1st generation 2 barrel carb engines had serious problems with fuel waste. This is because the crankcase volume was way, WAY too high. The 90 and 100 hp engines used a redesigned crankcase and block to substantially reduce the internal volume. These engines produced far more horsepower from the same displacement. The also ran better, used MUCH less fuel, and did not dump the raw fuel the way the gen 1 engines did. They are a far better engine design.
The Gen 1 engines had problems with raw fuel making puddles in the massive crankcases. This would make the engine load-up and foul plugs. A pair of small reed valves were employed to constally "vacuum" the unburnt fuel from the bottom of the crankcase. This fuel was then simply piped into the exhaust tower, just below the powerhead. Where did the fuel go? You guessed it - straight into the lake.
Just so you know - Mercury engines used a similar "weep line" system to keep their inlines from loading up with fuel. It too, drained right into the lake!