A infrared temp gun is a great tool to have on board. You can check filter temp, pan temp, before and after cooler, etc. May not be exact numbers, but can give a good idea what's going on

if i understand you correctly and this boat is still injected and you are running the water temp that cold then you are simply fuel washing the cylinders and filling up the oil with unburned fuel because the water temp sensor is telling the ECU that you are trying to start the boat and run it in vermont in january...

i'm surprised you just have soot on the transom... i would expect the plugs to be black and the bores.well on their way to being glazed...

You need to get a thermostat in it. Contrary to intuition, it will cool better with a thermostat than without.

Since mods have been made to the injection system, I would find out why it appears that there is no thermostat in the cooling system. Stock EFI's monitor engine temps to adjust fuel mixture and stay "rich" until warm temps are detected. If the motors were still programmed as stock they would probably load up so bad after a run they would not idle again after coming off plane.
Usually T-stats are pulled in supercharged motors to protect from detonation.
Sometimes they are pulled to winterize motors too.

if you are running an injected motor without a valid water temp curve then the fuel map isn't going to have any reference voltage for that input... it will stay dead rich. if the injection has been " modified" to eliminate that parameter then, aside from that being really stupid, it effectively eliminates one of the key advantages to having injection in the first place and that is having a "smart " fuel map rather than a dumb one like a carb. its pretty easy to make injection as bad as a bad carb... its just not smart. and if this motors is injected and its looking for a water temp voltage to determine where in the fuel curve it needs to be, then having the water temp full cold is exactly the wrong thing to do for about 50 different reasons.

temp should be 170 for fuel inj .i agree with these guys . you are dumping raw gas down the motor .few years back my small block the sender went bad and the motor ran real bad .then i put a new one in and ran good after that

Mike,

220 is a good oil temp. Like stated by others, the oil temp should reach higher than the boiling point of water (212F) in order to remove condensation.

Doc most likely removed the thermostats on those engines because of the whipples he was running. You will have to find someone smarter than me to ask if they really need to go back on. Or find Doc on here and see if he still has the old housings? ;)

I am going to the source of the conversion and hope to get some right answers from the guys in Michigan. We will see how the comp's are set up on this. I appreciate the help, least its winter and I have time ti figure this out for 5 months.

If it does need a thermostats (which makes the most sense to me) would the current housing accept a thermostat? It has hoses that go to the bottom of the exhaust but only two come from the top of the motor where the termostat would be, does it need something to send to the two places on the top of the exhaust (which are plugged)? I want to upload a picture of the front of the motor but do not think I am doing it right.
http://C:\Users\LasellMB\Pictures\36...mb_550x410.jpg

If you only have two lines coming off the thermostat housing, it's designed to run without a thermostat. You need three lines, the third is the bypass when the thermostat is closed. You could rig a bypass system coming off the back of the intake with smaller lines. It would take a little longer to warm up, but it would be less prone to detonation than without them. I pushing the limit on my 524 and I had my intake drilled and tapped to pull water off the back side to prevent air or steam pockets forming. I'm also running without a circ pump, but I have a Stewart 160 thermostat and three lines off of the thermostat housing.