Re: cavitation plate height?
At WOT, the plate should NOT be covered with water. If it is, come up a hole and check again. Also, after adjusting, try some fast tight turns. If it doesn't cavitate, it's OK. If it does, back off one hole. It's always found empirically.
BTW, most hull manufacturer boats have motors rigged too deep (never get a caviation complaint). The downside is a slower boat and worse, one that uses considerably more fuel. My boat almost always runs offshore for 1.5 to 2.5 hours each way. My fuel use dropped 20% by getting the "x" dimension right.