First off, towing with a bumper ball is fine, depending on the weight. I hauled a number of things before it became apparent that it was going to keep happening and the loads were probably going to increase. That's when I got my Reese receiver.
My bumper nearly totaled an F150 (had to be flat-bedded off the scene) and the only damage it had was scratches and bent inwards a little. I finally bent the ball when I had to help a friends blazer out of a ditch and was stuck using my ball as my only tow point. Everything pointed to me having to upgrade.
How big is said boat?
If it's only 3" taller I can't imagine that'd have any adverse effects.
If I had to speculate, if it's too much higher up the trailer may run into some tracking issues and want to wonder a bit. Too far down... well, there's only so much room for that. You'd probably be well into the pavement before that became an issue.
Weight. Boat trailers are pretty good at having the rear wheels fairly far back from the pivot point. But if you're having a problem pack some gear at the bow, having about 150-300lbs on the tongue helps alot (for a bumper), and the proper amount will vary with the trailers overall weight, but about 75-100lbs minimum. I usually quote 200-400lbs for a receiver.