"If the bulb is flat you have
"If the bulb is flat you have a fuel restriction between the tank and bulb. Possibly a failed anti-siphon valve. Your first sentance seems to be missing some words, but I am gathering that you can rev it to the moon on muffs (bad idea), but only hit 3.5k while underway.
The prop is the match between the boat and the motor. They are availible in a wide range of diameter and pitch to suit everything from a 10,000lb work barge to a 500lb tunnel hull. The right prop is the one that gets you near the top of your full throttle rpm range (5500) with a light load in the boat. There isn't a specific prop for a specific horsepower engine once you get above 10-15hp. In your case, if the engine is operating properly, you are seriously over propped (too high of a pitch)
An interesting note on the 1991 version of the 60 degree Eagle V6. OMC built that motor hot! it sits right on the top edge of the 10% rule for horsepower while in the 4500-5500 recommended operating range. However....if you run it a little over 5500, it can make close to 200 HP!!! That is until Merc started whining in 1992 and the motor got tamed a bit. Don't go nuts with it, but 5700 with a light load in the boat isn't going to hurt anything."