when pacahnga22 and i looked at that boat last year i swear they said it had some sort of steering issue. i dont think its the driver of the boat i am thinking that it has a gimble or steering issue going on. that boat is a big mofo, chine walking at 50 seems crazy. go back there and see if the pins are worn out or there is allot of play in the cable. sounds like its time for full hydraulic steering ;)

Thanks alot for all the input everyone I am going to pull boat out this weekend and check everything in the steering system. It could be anything from the rack to the gimbal housing being wore out at the pins possibly.
I checked the gimbal bearings and all was good there but didn't check the pins to make sure they were tight. It might even be the steering ram is loose or letting the drives move just ever so slightly. but at higher rpms it would act like chine walk 1/2"of slop either direction would really translate into alot of movement when you get all that weight shifting back and forth. Any way thanks for the input everyone more will follow next week after I check it this weekend.