Engine bogs after 3700 rpm

I installed a rebuilt Sierra, R2/2GC carburetor on my Ford 302 ( 888 merc). It runs great below approximately 3500 -3700 rpm but when I try to push it to well above 3500 rpm it will start bogging down to the point I have to pull back on the throttle to keep it from cutting off. I can run it for hours less than 3700 and it idles well also. Another thing, one time I was offshore into some 2-3 ft seas and it cut off until I turned around with the seas to my rear to smooth things out. I was low on gas that day so I'm not sure if that last symptom should have been added. Please help, I always enjoy and respect you guys on this website!

Why was the carb rebiult or replaced in the first place?

Maybe the choke is not open all the way, when at wide open throttle with the flame arrester off see if the choke butterfly is completely vertical.... ( / )

The float level in the carb may be wrong, Unfortunatly you need to take it apart and reset the float to the proper level if that is the case.

WHo rebiult it? WHere was the float set? SHould have been set level with the carb upside down.

If you purchased this carb allready rebiult or new, there is a good chance it sat around for a while and or was miss handled rough and the float changed its position.

Ayuh,... My guess is, there's Crap in the fuel system...
You did change the fuel Filters,.. Right,..??
It could be Crap in the Tank too...
Or the fuel pump...

Whole thing started 2 years ago when lots of water got in gas tank. Pumped it out completely. Kghost, I'll definitely check float. Other carb old and the new was not too expensive. Couple of years back I was trying to eliminate all problems when tank had so much water. I thought I had the tank and line cleaned up. Bondo, Ill go through the line, pump, change water fuel separator again. I only sprayed carb cleaner on the small filter at the carb, never replaced filter because it resembled a small screen not paper.

what psi the fuel pump giving you ?