Re: WOT Problem
I'd think you could notice a hi-speed misfire, although if a cylinder is dropping out completely it would be harder to detect.
The current status is, it's not reaching it's full RPM's at WOT, but starts and runs fine otherwise, correct? If you have a tachometer it would be helpful to know what RPMs you usually get at WOT vs. what you're getting now.
Easy stuff first:
Were you using fresh fuel?
Is the fuel line holding pressure?
Make sure the fuel tank vent is open.
If you're using built-in tanks, check the anti-siphon valve.
Check the screen filter on the fuel pump inlet.
Inspect all your fuel fittings, listen for the sound of sucking air while you pump the primer bulb. If they're a few years old wouldn't hurt to replace 'em anyway, they're not too expensive and they do wear out eventually.
Same with the primer bulb, I recommend spending the extra $7 or so for the OMC brand, the cheap bulbs aren't known for reliability.
Also check the fuel pump vacuum pulse line to the manifold.
On the starboard side under the flywheel the timer base is linked to the throttle linkage, it advances the spark timing as the throttle is advanced. With the engine off, get a helper to move the throttle forward - rotate the flywheel clockwise as it shifts into forward to mesh the gears - observe whether the timer base moves smoothly without sticking through its whole range of motion. It hits its stop before WOT. Also it should start moving just before the carb throttle plates start to open.
Check to be sure that the throttle plates are parallel and end up horizontal, but not beyond, at WOT.
You have a new fuel pump, but it wouldn't hurt to check it by pumping the primer bulb at WOT, see if it has any impact on RPM's.
keep us posted.