Ok i ran the boat a few times yesterday.  I drilled a hole in the left side of the transom to help water drain while it runs.  That definitely helped keep water in the baot to a minimum.  However, the boat still gradually gets slower and slower each lap i make during the run.  I've installed rubber band over the gas tank cap to make sure that the pressure from the pipe is staying as dependable as possible in the tank.  The water in the hull is kept to a minimum.The boat doesn't stall in the water.  It just seems like the engine gradually looses power and will not rev, the more laps i do on a particular tank.  It always runs good the first 1-2 laps, though.  Could the engine be slowly overheating?  I don't have a temp gun, but if i touch the head of the engine right after i bring it in, i can't keep my fingers on the head more than about .5 seconds before it starts to burn.  I know some others said they could keep their hands on the head for 2-3 seconds.  I may go pick up a $20 temp gun from lowes and see what the head temp is running.  I'm right at 3 turns out on the needle.  Any ideas?