Mike,
I'm not an expert, but I have a similar boat to yours in size, weight, and power. My 29' Shockwave is listed to weigh approx 5500 lbs. I have a stock HP500EFI and a stock 24 pitch Bravo1 prop. My top speed is in the 65-68MPH range and I am close to the rev limiter with this prop, With a 22" prop I think I would be all over the rev limiter.....What does Essex say about this? I've never dealt with them, but have heard good feedback about them and their boats. Is the performance you are getting typical for this boat and power??