Manuals....
Now, as a premium member, you'll be able to understand what we are talking about when we say, syncronize. You cannot do this with them on your lap. You'll have to install them to the engine.
First, your carbs....the BN-38, have a low speed screw on the bottom, with a thumb twist. This must be turned in till resistance is felt. Then, open one full turn, to 1 and 1/2 turns. What concerns me, is that it sounds like the black plastic caps on your high speed screw have been removed. If so, then this is probably the reason you burned a hole in your piston. The high speed screws are set from the factory and not to be adjusted. They do put a plastic cap on them that will allow you to turn them about 1/4 turn either way. If they were removed, then whoever removed them is probably the one that leaned out that carb and burned the hole in it.
Being a premium member, I need you to go to the Manuals section and open the manual for the 1995-1996 jet boat, listed for the Explorer. This manual has the same 657cc engine that you have. So use this book for engine procedures.
Go to page 6-03-02 and read the chapter on syncronizing the carbs and adjusting them. Also, read up on all the cautions in adjusting the "high speed" screws.........I think this is the heart of your problem. If those caps are off, there isn't much I or anyone else can do. These are considered set at "0" with a 1/4 turn either way with the plastic cap on. It doesn't mean the needle valve is at "0", it means zero by the factory stand point.:cheers: