300/440/550 Kawasaki js550

Bought an old 87 js550. I can't get any power out of it. Runs great. Starts right up. But won't even get out of the water. I'm running a sbn44 carb. And the stock pump. What else can I do to get more torque?
 
engine could be worn out hence the check your compression comment.
it's a 15 deg. impeller
Compression is at 130 on each. It's not the compression. I just ordered a Solas prop. Not sure what else to do. Took the original prop out and it was a little bent up. Nothing to noticeable.
 
130 is on the low range but still acceptable for these motors.milling the head will increase compression but also blowby as your rings and pistons are tired.
put the prop on it and see if helps before doing a rebuild.
 
Throw on a coffmans pipe woke my 550 up like no ones business.
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