Yes, that's the one. There's one on the top and one on the bottom. The difference is that bushing/sleeve for the bottom one. To change it, it's just a matter of pulling off the bottom bolt, take the bushing out, flip it 180 deg and put it back in. BUT of course that means changing your bucket to match it to maintain neutral.
As for spray or differences, honestly, I couldn't tell. It probably does make a difference, but it was imperceptible in every manner. I suspect they did this on mine to try and reduce porpoising which the 165 is prone to. But even for that, I can't even tell the difference.
I realized this when my bucket, one random outing, came down while at speed. The boat stopped as if I had thrown an anchor out. Water came over top of us all over and flooded the boat. We were in shock and didn't know what had happened. It was because the bucket wasn't latching and I didn't realize it because of this adjustment. It's unlikely to come down, but it CAN come down. Someone else recently posted that their bucket ripped clean off. The metal literally sheared and they lost their bucket.
IF your nozzle is indeed pointing down, I recommend you change it and adjust the bucket accordingly. But many don't have the bucket latching. It isn't a problem until it is. lol
If somebody messed around with it, I bet you this is why your bucket isn't latching, just like mine.
