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Phil T is right that something is wrong, but I think it's just the prop pitch and the engine height. The former owner seemed to have little interest in boat performance, and may have gotten a deal on whatever propeller his dealer happened to have in the shop when he reengined.

The bottom is a mess and will be sandblasted this fall, there is no top, we had two people on board and maybe ten gallons of fuel. This is really just a beach launch for us. I'm just trying to get more efficient operation - it's my wife's boat, I never drive it, and she never runs at WOT.

I'm going to buy and try Tim's 13 x 16 Powertec SCD, hopefully next week. It should help a lot, and once I get the engine raised, I'm sure I'll be happy.

Thank you all very much for your help, this is a great place to come for help!