Let's keep flying over the cuckoo's nest with all kind of answers, the OP has not answered a thing about what's beer tech requested as a starter as there's no magician available to fix that motor any time soon. Before going any further motor must be running strong again,once there, the combo needs a spot on motor/transom optimization and soon after a prop maximization to get the max HP out of it.
Hey WN, thanks for posting the Tohatsu Ownwer's Manual, Page 2, point 2 (Transom Height) states that the AV plate must be set 1.5 to 2.0 inches lower than the middle rear hull, so why in God's sake does eveyone likes posting that must be even with rear middle hull. Will remaind you all that all Tohatsu motors have way taller lower leg plates compared to other brands. So cut the cast on stone crap that must be even with rear middle hull...
A dry installation will show nor prove nothing, once the boat is on plane it's a different scenario. This is the ideal motor/transom height setting for Tohatsu motors powering anything that floats with a motor, works spot on all water cond. If in need to raise or lower the motor on transom to duplicate that precise setting it's a different story..
http://www.youtube.com/watch?v=oBeZj...ature=youtu.be
As I can tell, not assume, none of you guys have in use or know well these 2 strokes Tohatsu motors. A 2 stroke 30 HP running strong, spot height seated and max propped runs as much as 30 MPH on a medium light boat, that 40 should run way more, the issue is that isn't known so far what's the max HP and number of passengers rated for that boat model.
This BW 15 footer boat powered with same 40 HP motor and stock prop with just a optimized motor height is super fast and darn scary running at wot and probably not revving to its max wot rpm range which isn't known.
BTW, the lower leg when the boat is on plane matches what the YouTube shows. If you see the AV plate being even with the rear middle hull, sorry you need prescription eye glasses ASAP.
My 2 stroke 18 HP powering a half ton 450 Mtr boat achieves 21 Knots at max at 5800 rpm range with 2 up and a 40 HP has double CC powerhead compared to a 18 HP. As long the OP doesn't report what's been previously asked, this post will fly higher than what a kite can fly...
Happy Boating