I have a 1997 Bayliner Capri 2050 with a 5.7 Mercruiser 260 hp. On wednesday evening we did a long run to restaurant and back, included an hour of no wake and 40 minutes of WOT or high speed cruise each direction. Boat ran fine. 4300 rpm, 52 mph 5 people on board. On Thursday morning, boat started normally, idled out of annchorage normally and accelerated normally to 3600 rpms on to plane perfectly. When I pushed the throttle the last 1/8 to WOT the engine bogged losing power and dropping to 3000 rpms. It felt like a choke had closed. When I pulled back 1/8 it jumped back to 3600 rpms and ran fine with no problems at all. Starts fine and runs fine except for WOT. When the engine bogs it is not gradual, it feels like a switch is being thrown and the same when I pull back from WOT it frees up and runs great, right where it would normally run with normal power etc.