Man, that's almost my exact motor. I went with a little more cam, and smaller heads. From my old 350, I picked up around 10MPH. I have a bigger (23'), heavier (a couple tons) boat.
Was the engine dynoed? Where is your timing set?
Were those speeds GPS? You're speed shows about 22% slip.
http://www.planetsmilies.com/smilies/happy/happy25.gif