Yes it does cavitate on sharp turns.
Gas is cheap at only $4/US gallon here. I found that by replacing the temp sensor on the eingine I got better gas mileage. Running around at 5500 RPM really burns gas fast. These boats aren't easy on gas. I can burn 40 gallons in one 8 hour day towing 3 people around. Gas mileage depends on how many people are in the boat, rpm, if you are towing people, etc. Make sure you replace the spark plugs every 100 hours.