I have a 97 GTX that was reving too much on the low end and had no "hole shot". After making sure the impeller, ring, neoprene seal, impeller boot, drive shaft and thru hull bearing/seal (carbon seal) were all good I still had the reving problem. I took the entire rear end ride shoe assembly apart and found the factory sealant had seperated from most of the plastic, the seal had 100% failed on the wedge piece in front of the pump. After cleaning out all the old sealant, prepping all the surfaces and using "right stuff" to reseal all the parts the reving problem was gone.
I have resealed my 97 GTX and 94 XP ride shoes due to low end reving problems. In both instances the finished result was very noticable and worth the time to do the work. To add, I was very suprised at how little sealant was used on both machines from the factory. The XP had air channels from the nozzle area straight into the intake in front of the impeller as assembled at the factory.
I would strongly suggest cleaning and resealing the ride shoe components. Don't be afraid to use extra sealent when reassembling. On my XP I'm probably going to destroy the ride shoe if I ever have to pull it out again, but I was 100% sure there would be no air leaks when I was done. Just be sure to check the entire pump intake for sealant that bulged out and could cause a disruption to the water flow before the impeller, smooth things out before the sealant sets up.