Ok problem (probably) solved.
I changed to a 15.5x17 stainless apollo/michigan prop that I had but it needed a new hub. Got the hub and tried it and I get 5100 rpm WOT indicated. I did look at the linkage and it does get pushed to its full range. I also read the flywheel rpm with a laser tach and at 1300rpm indicated, the flywheel read 1700 rpm. So the tach appears to be 400rpms low. I need to try that at a higher rpm to make sure it's consistent. Then adjust the boat tach.
This probably means with the 15.5x17, full fuel, one person, flat water I'm getting ~5500-5600rpm at 41.5mph boat speed (gps). That's right where I want to be.
--Kevin
1984 200ccp / 2003 Evinrude Ficht Ram 175