Re: 14' Sea Radyer w/120hp only goes 28mph?
first of all, you can't use the 120HP engine with the 90HP pump. Yes it will fit but the gearing is different. Your engine should run in the rev limiter @ WOT.
second, inspect your impeller and wear ring. You can do this by removing the intake grate under the boat, don't forget to put it back with blue loctite on the screws.
Check the cleareance between the impeller and wear ring. If your boat runs only 28MPH, it must be a big clearance, like more than .045" If the wear ring has big scores on it and the impeller is damaged, you will need to change them or rebuilt them.
If the impeller and wear ring are correct, the other problem could be cavitation.
cavitation will make your boat very slow to plane, poor top speed and on takeoff the engine should rev like it's attached to nothing.
Cavitation may be due to :
Bent ride plate (this happens when engine is runned out of water and then makes a backfire)
Bad ride plate gasket
exausth leaks from the engine to pump gasket.
there may be other reasons but that's all i'm thinking of for the moment.