454mpi with procharger loses power ,smokes,etc...

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hello dear friends...
i am having some issues with my new ride i fell in love with.

it is a 1998 american offshore 26 with a 454 mpi /procharger.

upon cold start,everything is great.i can get a good 15 min. of strong boating with the pyrometer showing 9 and no smoke or soot coming out..

after a good strong short ride, i get a power loss and cant get passed 4000 rpm.no throttle response,or at least very weak.
engine misfires.lots of fuel being dumped and smells fuel strong,soot covers the back of the boat quickly.
i noticed today for the 2nd time that after the issue shows up, my pyrometer gage goes down to "0"...

it idles very bad...
when cold again,like the next day, boat is a #1 for the 15-20 1st minutes again.. then same thing occured.

it uduslly gets 4800-4900 rpm...and used to stay very strong during my usual 30 min. rides...

i replaced the plugs thinking they were fouled ...but today found out it did it again.

anyone have any ideas ? or anyone know these procharger systems well ?

Way tooooooo much fuel! Sounds to me like the fuel management unit orFMU is sticking open. Is it a red billet one ? How much fuel pressure are you seeing at idle and under boost. The regulator procharger supplies is junk at best.

Bryan