Bigdog, Do you have lifting strakes? What prop are you running, aluminum or stainless, what pitch? Do you know the gear box ratio of your motor? If not, what year is it?
I would do a prop calculation and see where that comes out with several estimated slippage factors. If the boat has lifting strakes I would think you should get into the low 30's on speed. At one point my 23 foot tritoon had a old 140 hp (about 125 real hp) and I had the center toon only with strakes. I know I was getting a little better than 30 mph but that was with a nice 4 blade prop.
Without strakes and with a ordinary stock 3 blade aluminum prop you may be getting to your limit. If you can provide the above info, it would help to give a more accurate response.