Mercruiser 454 loses power

by mig

I have problems and not sure whether they are fuel related or electrical. The engine loses power after initial thrust where it uses around 4,000 rpms to get on step. The very next time, it will not power past 3400 rpms and it becomes a displacement hull. It is on a 28' Bayliner. I have replaced the coil, rotor, water separator fuel filters and cleaned out distributor caps. Am now going to replace plug wires. It runs beautifully (does not run rough)but will not power up after the initial time. I just put on a new Bravo 111 leg and it has dual props. Engine temp is normal.

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