Bought the boat in April 2009 and never had it at WOT. Actually, when we had our other boat here in Colorado, we never run it at WOT either. Just never gave it a thought about running either at WOT for any reason. Going 23 mph on the St John's River in Jacksonville, Florida was plenty fast enough for us. 23 mph was not WOT.
The new block (small) was installed in June 2012. Same size block as the original and same size engine (5.7). During the following years, up to now, have never run the engine to WOT. Never thought about doing it. Going 28 mph on local lake here was fast enough for us, but did try to get it go faster, but it wouldn't.
WOT is about more than just top speed, actually. I generally use WOT to get up on plane since it's fun and the bow is blocking your view for a shorter time (just a few seconds if that), then back it off to where I want to cruise (by looking at the tachometer, not the speedometer) before it tops out on RPM or speed. Then periodically cross-reference the RPM with speed (along with scanning the other instruments) and draw conclusions about how the boat is performing, how is the wind and load affecting it, is it trimmed correctly, etc.
I did a quick check last weekend by running at several different low RPMs to see where it would come up on plane. It came up at 2,500 but might have at a lower RPM if I had waited a little longer. That RPM equates to probably a little over 20mph. Between 3,000 and 4,000RPM my boat (19-20', 4.3V6) gets about 1mph for every 100rpm. Below that range it gets a little less and above it, it gets a little more (mph/rpm). I've seen 45mph (GPS) on a good day, with existing imperfections (prop condition, imperfect carburetion, etc.). Yours ought to do that easy I'd think (as Scott D and maybe others already said).
I remember though, at 16 getting ahold of what had been the family '70 Pontiac with a 350+hp 455 and thinking it had probably never been floored since my parents rarely drove like that. I took care of that real quick and enjoyed that car. Give me WOT once in a while. Or every single time (just not top speed runs every single time).
Some people are born to care about this stuff, and some don't really give a hang since they have other interests. I have kids in both camps.