5800 RPMs on a bronze A?
I'll get back to that later......
I am immediately thinking two things. With three carbon laden plugs, carburetor issues surely could be the cause. I am also thinking that you have some bad ignition wires, you mention three fouled plugs and "a few" plug wires fitting loosely, any chance the loose terminals were on the fouled plugs?
The next thing I am thinking, do you have a rev limiter? You may look into that, seen those do some Twilight Zone type things before. They really hate moisture from my experience.
I would also have the tach checked out, along with the wiring harness for possible issues.
It could be valve related for sure, but a compression test and a vacuum test would find that pretty quickly and should be easy to rule out..
Sounds like a bad ass boat and looking forward to the pictures..

Welcome aboard and good luck.
GT