Re: Need more power!!!
Bad advice here so far.
Lots and lots and lots and lots and more lots of guys running 375-400hp into an alpha. You just have to be careful with your holeshots and getting air.
You can run her at 4600rpm ALL DAY LONG. As long as you don't have a high volume oil pump! If you do, you could pump the pan dry before the oil has a chance to drain back down. The engine will obviously wear faster if you're running her WOT all the time, but, hey, its a Scarab, right??? She's meant to go fast!
Mods: Good dual plane, high-rise manifold; good marine rated 4V carb, Holley or Edelbrock; free-er flowing exhaust manifolds (I'm guessing you have thru-hulls already). If you want to dig deeper, both engine and wallet wise, aftermarket aluminum heads, cam, roller rockers, etc.
I agree you def need a smaller prop, get you into the proper WOT range. Along with a better holeshot, you may even gain a couple mph by utilizing the extra 600rpm.