So you think my best bet is to tap some vents in the filler cap somehow?
If I am understanding you properly, It sounds like your problem follows the switching of the vents AND while operating on the good vent, there is no ussue. The problem will most likely manifest itself only when using high volumes of fuel for extended periods of time. If that is in fact true, repair the vented cap as they were intended to function.
Kinsler has the following to say regarding fuel tank vent size:
The tank MUST have a vent. Large amounts of fuel volume are being removed from the tank. This volume must be replaced or a vacuum may be formed inside the tank, causing the fuel to be ‘locked’ inside. Scenario – a straw in a drinking glass: put a finger on the end of the straw and lift it out of the liquid; the straw retains the liquid until the finger is removed and allows air in.
NOTICE: Fuel tank and cell manufacturers may NOT offer a tank that is properly configured for your application.
Too large of a vent will not hurt anything, too small may cause the pump to cavitate, resulting in an inconsistent fuel supply or damaged engine parts. Remember when altering a vent by adding length (hose), installing a roll-over valve, or a filter, the vent may require a larger inside diameter (see ORIFICE THEORY on Pages #202-203).
MINIMUM ALLOWABLE TANK VENT SIZES:
For pump sizes of -00 upto -1 3/8” (.375) inside diameter or bigger.
For pump sizes of -2 upto -4 1/2” (.500) inside diameter or bigger.
For pump sizes of -5 and bigger 3/4” (.750) inside diameter or bigger.
NOTE: When running multiple pump systems multiply the area of the above vent sizes by the quantity of fuel pumps.
Also would it behoove of me to get a better fuel pump seeing that I probably have the minimum in my boat now?
I would suggest, once you get your vent issue sorted out, install a fuel pressure gauge near your carburetor. Have someone observe the gauge while you launch hard and keep your foot in it for a minimum of 15 seconds. If your current pump can maintain 5-7PSI (with a Holley) and your Air Fuel Ratio (AFR) is within reason, I would say you do not need to upgrade. If the pressure falls off (like it does right now), I would suggest that you find the cause of that before blindly replacing parts.
Good luck,
Joe