So I have two issues right now that are keeping me from taking my family out on my boat and can't get anyone to look at it this week. Hoping of some help here to determine what is actually going on (maybe it's nothing?)
Background- Two weeks ago I took 7 other adults out on my 1996 238 Vista DLX 5.8 EFI. This was the first time I had that many people on her after going from SS prop to aluminum (I had tested the new prop with just 2 people and it was near the same as the SS) I could not get the boat to plane even with the trim tabs down. Had to get some people to move into cabin, once she was on plane, no problem.
We ran up the lake about 8 miles turned around to head back and about 45 minutes of running constant 3500rpm 27 mph she just slowed way down, the tach I believe was still at 3500 rpm, hard to say because I pulled the throttle back immediately. The oil pressure was fine and the temp was fine. Everyone on the boat said they could smell gas....but I am sure it was exhaust, just very strong and very potent gas odor in it. I slowly drove her to the nearest beach and began to look over the engine. I did not notice a lot of water in the bilge although there was some. I did notice this.

Video link -->
https://flic.kr/p/umroHT sorry about the sniffling audio
After close examination I found the leak was from higher above the y pipe and I took a socket wrench and tightened the hose clamps as tight as I could. Hoping that there was not some torque setting or something that I was missing. At the time I was thinking "ok this would be an exhaust leak and perhaps it caused my problem?
Several hours later we left the beach and headed back to the dock and with the exception of having to move people to the cabin again to get on plane, she ran fine for the short 10 minute run. When I pulled her out we got in a hurry and I didn't get a chance to check that leak again, but when I pulled the plug...more water came out than I thought should, although people were wet on the boat and my bilge never kicked on, so maybe that was paranoia.
In any case I am going to drop her in the water myself tomorrow and try to replicate the power loss by just running her around for 45 minutes and at the same time I will look for this leak again.
Anything I should ALSO check? anything I should be worried about with putting my family on the boat later that day? I have unlimited towing insurance and quite a few mates on the water so the worry isn't getting stuck, the worry is doing damage and costing a LOT more money or even worse someone getting hurt because of some mechanical failure.
I know it's a shot in the dark but any feedback could help as I am blind to what is going on here.
TIA,
_________________

Chris and Alicia
Las Vegas, NV
ALTIVA
1996 Four Winns 238 Vista Dlx 5.8Fi