Re: no towing power
Either you have a very heavy hull, incorrect tach or poorly performing motor.
The WOT recommended rpm range for your motor is around 5300-5500 rpm. If the rpm is accurate, you're way out of the motor's power range and that's why you've no power for pulling watertoys.
A 115 should pull a 17" pitch prop pretty well, with lotsa pep. Definitely more than 30mph. And frankly only 40 on a 16' Sidewinder is kinda slow, too. That's a light, fast ski boat hull. I used to have a 16' SS and if I recall was getting 40mph out of a 100hp Six. And closer to 50 (very scary, too!) with a '71 1350.
Maybe it's time to do a compression check and tuneup on the ol' gal. She may be a bit on the underperforming side due to state of tune or internal problems.
Here's a good place to start:
http://forums.iboats.com/showthread.php?t=168855
http://forums.iboats.com/showthread.php?t=158076
BTW don't lug the motor in its current state of tune/prop. You're gonna kill it. Detonation and other destructive internal issues occur when you lug an I-6 like this. Or most other outboards, but the Inlines are particularly sensitive to the issue.
So, you're gonna need at minimum a 15" pitch prop, if the rpm readings are accurate. Maybe even a 13" to get up into the rpm band. If you're in good with a local dlr or prop shop, they might let you try a prop on an exchange basis.
Otherwise, you can probably find a deal for a used prop on your local
www.craigslist.org classified, or at eBay motors.
One last thought, someone could've played mix 'n match with lower units and installed one with a different gear ratio.
You can check this out by first pulling all spark plugs, then the engine 'tophat'. With the ign off, and the lower unit shifted to Fwd gear, turn the flywheel 2 revolutions. The prop should turn exactly 1 revolution. If the prop turns more than 1 rev, you have a 'overdrive' gearset which will 'skew' the prop pitch recommendations by at least 2" of pitch.
In other words, all things being equal you'd have to go at least 2" less pitch for any given prop recommendation, given a 2:1 gear ratio (which is what your motor should have).
Not that it's that likely to have happened, but it can't hurt to check.
HTH & G'luck.........ed