Any engine that operates at/near WOT for three hours is gonna drink a significant amount of fuel, 17.5 gal is probably a fair number thats a bit more then 5 gal/hour. You should be able to pull a tube at 1/2 throttle or less. I have a 180 Sea Ray with the 3.0l and and can pull a tube at less then 1/2 throttle once I get it the tube on plane. You might wanna read up on props and see if what you have is appropriate.
Finally! Finally! Got the family on the water today!
I pulled my kids around on a great big two person Budweiser float for three solid hours at WOT pretty much. Used 17.5 gallons of fuel.
Is that about right?