I have the same boat and problem and haven't tried this yet. Runs fine to about 3500 rpm and then nothing. I've been racking my brain for over a month, tried everything I could think of, and just pulled the boat from the water to rebuild the carbs. Did you figure out a solution or is it still a mystery?
After some more reading I have learned that there's a a 0.8mm restrictor built into the return line outlet at both carbs. I don't think this is a removable component though. The fuel should divide through the restrictor and the fuel filter inside the carb. By pinching off the return you are diverting more fluid through the Internal filters.
I have seen elsewhere on the forums that the original '97 fuel hose is incompatible with ethanol and the hose disintegrates and clogs these filters. Did you clean or replace them when you did the carb rebuild?
C