It depends on your setup, how loose it is right now, and how it currently shuts down. Do you have your biting edge even with the keel line or up in the intake a little? I assume the boat is running relatively fast now, so you'll want to take your time and sneak up on the setup rather than dropping the shoe a whole bunch and having it behave really nasty on shutdown. If you want to take it real slow, make a 1/16" shim, and 2 1/8" shims. Then you can go to the lake and test anywhere from 1/16 to 5/16 in 1/16 increments. If you find you need more than that, then make a 1/4 shim which combined with your previously made shims should be good for further combinations.
I'd also run a passenger and a intake pressure gauge so you can quantify changes with some sort of data. Sometimes having that extra bit of info can help if you start to notice other issues but can't draw a correlation to anything.
Hope that helps, now get some pics of her up here.
Chris