Holley + sooty transom = Blown power valve or stcuck float.
Check the easy stuff first.
New plugs, wires, cap, rotor is never a bad idea either.

Yep, played around today. Removed flame arrester, and the carb was wet with fuel around the top inside rear airhorn. Had it running and tapped on the float adjustment screw and fuel leaked out of the air bleeds. I think it must have been a sticky needle and seat or float too high, but I put in a new needle and seat, gaskets, just have to run it, adjust the float, and change plugs now. I recall it doing this last summer, it would be ok sometimes, then sometimes after a run, when i came to idle, it would begin to load up.

Another question, when a plug gets fouled out from fuel, is it toast? Or will it recover and fire again? Also, if it was dumping fuel because the float was sticking, would it be rich enough to drop my max rpm that much? I guess if it was on 7 cylinders it would right?

Change your oil also before you run the boat again.

Yea, I was thinking that. Pulled dipstick and it didnt smell like fuel, but id rather be safe and just change it, even though it only has a few hours on it.