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I would check your TPS - throttle position senor near the MAF. my OMC 5.8 would do something similar. It took 1 minute to get on plane then would procced to "near" top speed". Felt like I had 75% power. Some TPS can be adjusted if you have slots for the two mounting screws. You can turn 1/8" and...
Just wanted to add - to identify limp mode or slow mode it should surge. My 94 Four Winns OMC 5.8 would only rev to 3000 RPM. Motor sounded good, no sputtering or hesitation, just would only go to 3000 RPM. I assumed it was S.L.O.W. mode, so I tested the two water temp sensors/switches, the oil...
