I don't know if grade 8 is the best choice due to its poor performance when subjected to cyclic loads in shear. Grade 8 is great when it is loaded in tension, but a bolt holding a motor on a transom or jackplate is shear loading. A good SS bolt is about the same as a grade 5, which, in my opinion is a better choice due to being less brittle and therefore less prone to catastophic failure when subjected to cyclic shear loading.
A good example of this is RAs trailer tounge bolt. If I remember correctly, he replaced it with grade 8 hoping it would solve the problem, but it didnt. Its a classic example of a very strong but brittle fastener being used in an application where it is subjected to cyclic shear loads.