Lower Unit and Throttle Position?

[19ftSigna]

Ok, they guy I bought this boat off of dropped the lower unit to change water pump. He put throttle all the way down and dropped it. Now to install it does it need to be in same position? If I installed it with throttle in neutral would that matter? I had it out the other day and seemed like no power only running around 1000rpm and less.... What do you all think???