I have a Mercury 150 hp XR6. The motor starts and idles fine, however it has a major power loss under a load. It will not come up out of the hull. It does have a good response in neutral, it is just when it is under a load that it does not have power. I have changed the plugs and checked the fuel filter. I'm not sure what else to look at.
Triton,Start with a full tune up and carb cleaning. When I first got my boat with a used merc I had the same problems. Tuning it up and having the carbs cleaned made all the difference in the world.Just a note... I would be worried if your trying to get your motor to come out of the "hull"
I just had a similar problem with my '93 Mariner 200. It would start and idle fine. In neutral, I could rev up the RPM's, but in gear I could only get 2500 RPM's. The solution was a new switch box. If you have a manual, it should tell you how to troubleshoot the switch box. Let us know what you find.