You need to check timing above 3700rpms. Set it to 34* or at least bump base timing to 10*.

Your modifications should be good for about 50-60hp increase. You should have milled the heads as well. I would also add an open carb spacer.

If you can't raise the bow of a 311 with twin BBC's, you definately need different props.

Did you do the heads or have them done somewhere else ? I have seen guy's loss HP grinding on a set of heads. And with out running the on a dyno it's all just a guess . Commonly known as auto trade HP.

thanks for the input guys, I put it toghther with 2' 4 hole carb spacer have rounded up 1' open for the spring . my head clean up and bowl blending was done by me with guidance from my eng shop, will start back with my original props for a baseline and go from there in the spring, wish it would come sooner thanks again Randy

I thought you were still using the same props????

You should see a 300-400rpm gain with your changes and the same props.

yes Griff I had same props on no change in rpm I have set from 4yrs ago back to 3 bladed see what that does ( they do lift bow with old power)

With stock inlet manifolds and upgraded exhaust + a bigger and I'm assuming better carb, the spacer will help but my thoughts are you intake manifold probably sucks too!
It'd be hard to get a gauge on what's wrong where with combo that has a choke point like the stock intake. If your ignition is stock, grounding issues would cause a missfire or dead engine. Lead (trigger) wire flaws may cause limit to RPM on an opticaly triggered ignition or something like yours, but my suggestion would be to test your engine under load and then off load (rev it in Neut... does it go past 4700rpm that way?) Then you'll know if it's the ign, or the hp. If it's the power (or lack of) look to your fuel supply. Did you upgrade your fuel pump? Do you still have that little widget thingy in the fuel line from the tank? (The one USCG mandates that the boat be built with I think). Apparently that's a big inhibitor. You've done some big flow increases and are putting a large increase in demand on your fuel system, I'd look there.
Hope that helps... Roll on Spring
(or move to Australia, it's always boating season here!!!)

The stock fuel pump is plenty for what he doing.

You should have picked up some rpm. My guess is more timing and carb tuning.