my 97 single step only runs 75 with 500hps with full load fuel and 2 people and 26 hydros q4 is that good ?

Little off, my 99 single step with 500's ran a solid 80-81 any day with either of the prop sets I had, 26 Hydro Q4's or the 28 Lab Bravos.

Yes, HO's in my lightning...anything less is an act of Fountain heresy.

with same power, props, etc, how much faster is the newer step 35 lightning compared to a 1990 smooth bottom 35 lightning.

I test drove a 1997 35 Lightning on the Ohio River several years ago that I was thinking about buying. It had HP500's, one engine was missing really bad and the other one had a blown manifold/riser gasket on one of the Gil's. 4 people and almost full fuel it still ran just over 76 mph on GPS. Didn't buy that boat, but a year later bought a late 2000 35 twin step with 500EFI's. That boat consistently ran 84-85 mph on GPS on a local lake in 95 degree heat in NC. I really liked the 35 twin step!

Did anybody get the 2001 twin step that was at Shogren's?
It had HP500 EFI, blueprinted bottom, and XR drives with shortie's.

Didn't last long, I think it was only on their site for a couple of weeks, nice looking boat.

Mine runs 75 on her BEST day...about half-full on fuel, 4 people on board. Most days, she is 70-72...if I stay in it, it'll climb a LITTLE. My motors are bone stock 502s with almost 700(!) hours on them. Start and run perfectly every time, use no oil, and very little smoke. I do have a blueprinted hull and IMCO boxes, though. Spinning 26 pitch 4 blade Hydros...but I can only get up to about 4800 rpm.