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New Member & New to Me Boat

Hello all,
I recently purchased a 1993 Crownline 225BR from a friend of a friend. The boat is in decent shape (needs interior work & a little TLC with paint), and has a new to it, 305 mercruiser with an Alpha 1 outdrive. I noticed that during a 20 minute end to end lake run, at WOT the RPM's peaked at 2700-2800, a speed of about 30mph (on the dash) and even towards the end of the run seemed to start to bog down a little. Thinking I may have a couple issues or corrective actions to make, but was hoping for some experienced input. Thought about a possible fuel delivery issue (dirty fuel filter, etc.) or possibly a prop issue? Any help would be much appreciated. Last time boating has been years ago, and this is the first boat I/we have owned as a family. No real experience here. Thank you.

Fuel and filters. Complete tune up. Check timing. Do a compression test. What prop is on it. It should be somewhere in the 4400-4800 rpm range wot

I know I have been running high octane, non ethanol gas. I will have to check the prop on it. I know its a stainless 3 blade. Filters wont be an issue, I will work on timing and compression test.

being your first boat do you know how to trim it ?

I have an idea, and I assume you mean raising and lowering the lower unit and prop. Unfortunately the up/down on my throttle shift unit doesn't work quite right. It will go down, but I have to use the separate raise square button to get it to come up. The "up" button doesn't work.