My setup...
.... uses 2 250W Wolverine pad heaters per engine.
One is placed on the side of the oil pan, the second on the oil cooler housing.
This warms BOTH the oil and the cooling system.
I then wired cheap analog (reed relay) thermostats off a normally closed contact on the hobbs switch (changed the hobbs switches so I had the second contact) to a high-current relay for each side. The relay boxes are mounted over the genset behind the starboard engine. I took power for this from an existing 20A utility outlet in the rear of the engine room, while upgrading that outlet to a GFCI in order to protect against possible ground faults.
The result is that the heaters automatically are disengaged when the engines are started, and they come on when the engine room is below approximately 70F. The plugs for the heaters are in a standard dual-gang marine-rated outlet box; one side contains the two 120V outlets, the other a manual disable switch and neon pilot light so you both can shut them off (e.g. for maintenance purposes) and also so you know the status of the system at a glance (if the light is on, the heaters are heating.)
In the middle of the coldest overnights here (mid 20s) the engine room was comfortably warm in a T-shirt, and the blocks warm to the touch. Starting performance is literally instantaneous with zero smoke in all conditions. This is quite surprising to me, given that I've seen the coolant immersion heaters and while they work really well, they draw a LOT more current and produce MUCH warmer (to touch) engines. I get the same performance with cooler APPARENT external temperatures and vastly less energy consumption.
I leave the system enabled all the time. At most it draws 10A (1000 watts) for both engines, but it also cycles off when the engine room is sufficiently warm automatically.
Warm OIL is, IMHO, more important than the rest. The critical component on a cold start is the speed with which lubrication first reaches bearings and other surfaces. Warm oil insures that this happens almost instantaneously, .vs. the oil having to be warmed by transit through the block. Also, cold oil with a warm block above it is a condensation trap, which is not a good thing - you want the oil at least as warm as the rest of the engine, lest condensation occur in the oil when the engine sits unused.