For sure, if the rave valves were not lifting (broken cap, threaded portion of cap wallowed out, hole in bellows, excessive carbon build up on slides, etc) the engine won't run worth a damn.
After I rebuilt my two bellow assemblies and cleaned the slides my ski revved to 7K on the water, prior to that....5K.
I also installed an R&D intake grate and with those two changes it was like an entirely new ski. The thing was fun, fast, (indicated 51 mph) and had a much improved hook up out of the hole. Even my wife noticed how much better it ran...so that says something right there!
Since you had such an improvement with your rave valves, perhaps it's possible that you overlooked something on one of them....I can't stress enough to double check the top plastic cap piece that holds the top of the bellows (has upper spring clip around it) and also screws onto the shaft of the slide valve. The threads on the caps are notorious for falling apart and not lifting the valve.
I lock mine down with blue loctite. I also run with the red center caps on the raves flush with the black cap. (this preloads the spring) Some people run them all the way down, some up....flush seems to be good.
Definitely check, gap, & clean the spark plugs.
Gas----I wouldn't go crazy with that......put some fuel treatment in it, some octane boost if you want too.... and run it. I'd top it off with fresh fuel 40:1 mix as well.
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