Motor will turn 4300Rpms out of water... under hunting load in the water the max I could get was 2850. If I would close the choke a little the motor would begin to pick up then start to die..

Does that sound like a fuel issue to you guys? I was thinking maybe the jet in the carb was clogged or its just not getting enough fuel (may need to add an electric fuel pump)... it idles great and runs fine, just doesn't seem to run right under a load.

open to ideas.

Sounds like a high speed jet issue to me.

Is the motor new? Timing could off, check the carburetor, fuel line. Somehow the motor is starving when under a load. I had a buddy who added an electric fuel pump and his motor ran much better after installation.