787 1996 gsx bogging at 3000 rpms

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My Compression is 150 each, just cleaned raves, just rebuilt carbs with oem Mikuni kits, and pop off is set around 40 on each, new fuel lines, new fuel selector, drained tank, new plugs, and runs perfect on trailer, in water it wont run past 3k. It seems like its cavitating but wont rev past 3k at all. On start the battery is charging at 14 v. Any suggestions on what to do next? How do I test the rectifier?
 
The only test I’ve heard of to test the rectifier is to pull the red wire off, battery won’t charge with it off
 
I’ve read to never adjust the settings in the water regulator as nobody knows how to get them back to factory settings
 
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