My 97 Seadoo XP 787 was having some blowback issues at all RPM ranges and backfire at high RPM's while running on the hose. It will run in the water, but will bog down and cut off unless I increase throttle very slowly, and even with throttle down, I'm not getting anywhere near full power. It also seems to have some custom carb setup with dual Mikuni 44's (anyone know exactly what carb setup this is?) and some special rotary valve cover by watercraft magic (apparently company doesn't exist anymore?). I checked compression and both cylinder are right at about 150psi. I'm getting good spark on both plugs, very nice and bright blue when I touch the plug to the cylinder head. I rebuilt the carbs and replaced the needle and seat with genuine Mikuni carb rebuild kits but that doesn't seem to have helped at all other than I now see even more fuel spraying out the carbs. I checked charging voltage at the battery while the ski was running on the hose and revving it up to around 5k rpms and it holds pretty steady between 13-13.2v. So my next step was to pull the rotary valve and cover to check timing and assess the condition of the parts, they look ok to me but was hoping someone with more experience could give me better insight. The cover had minor wear marks but nothing that would catch my fingernail. Rotary valve looks a bit beat up especially the side facing the engine and I plan to get a new one but would that cause all these crazy problems? At this point I'm kind of at a loss at what would cause these issues?
Also, can I use some light grit sandpaper like maybe 3000 to sand some of those deposits off the valve?