5.0L MPI Sounds Great (only 80 hours) but no power out and low top speed

[KN94108]

I have a 2006 Deckboat (4400lbs Dry weight) with a newly 2007 5.0 MPI 305 CI V8 (80 hours) serial # 1A048973 with a Bravo Three out-drive and 22P Bravo Three prop.
I'm getting no power out of the hole (and with more than 3 people on-board I won't plane or it takes a quarter mile with the family piled up front) and top speed is around 38 mph trimmed out at 5500 rpm.
Wondering if you have any advice as to what could be causing the lack of speed and power.
The engine sounds great and idles like a champ. Just replaced plugs and performed maintenance.

Thanks for any help and/or advice!

Cheers!

KN94108

 

[tpenfield]

:welcome: to iBoats . . .

Just be glad your engine sounds great . . .

My first thought is that a 5.0 engine for a 4400 lb. boat seems a bit weak. When you say 'newly' what does that mean? . . . a replacement engine? rebuilt? Is this boat new-to-you? Any history with the boat?