My apologies, you're definitely correct. I also apologize for the length of this post, tired my best to be through and, if I made any mistakes, I would appreciate being corrected.
To summarize what I wrote, I pretty much think wellysm should check his throttle cable.
For the last few days, I spent quite a bit of time trying to figure this out. I was looking for test reviews of the boat, where they posted the boat's speed at their corresponding RPMs and came across this discussion.
http://www.greenhulk.net/forums/showthread.php?t=136885&page=2
Essentially, someone else was having similar performance issues as wellysm, such as lower than expected top speed ( 38-40mph), along with other guys confirming top speed, with a 155hp engine, around upper 40's and lower 50's. They initially thought the impeller or wear ring was an issue, but for another person with similar performance issues, the issue was the throttle cable. The throttle cable got stretched out and needed to be adjusted to actually open the throttle.
In wellysm's case, it could possibly be the throttle cable, if he hasn't checked that yet. Just to make sure, I tried my best to verify the part number on the impeller and make sure it was from Seadoo, as well as know what the pitch is.
(
http://staging.sea-doo.cust.shopatron.com/product/962977/267000673/_/Impeller# )
Going off the impeller being properly pitched, the likelihood the issue is stemming from a higher pitched impeller putting too much load and the engine and reducing RPM, I shifted focus to when willysm stated that he's getting a 1400 RPM difference when going from half throttle, at 5500 RPM, to WOT and maxing out at 6900 RPM, when his RPM limiter should be at 7300. With the probability that this reduce max RPM is caused by improper impeller pitch, a loose cable throttle would be the most likely cause to reduce max RPM.
Additionally, as wellysm stated that, at 5500 RPM, he's going about 30mph, I am doing about the same speed at nearly the same RPM, as well as other boat reviews indicated. Because of that, I am not lead to believe anything is mechanically wrong with his engine that would be restricting his performance, as it is relatively linear and normal for his boat to be doing 30mph at 5500 rpm. Passed that, doubt a mechanical issue would consistently occur at higher RPMs, except throttle cable.