I think my idle is set a little to high. I push a little to much wake at idle in the no wake zone. It's running
at around 1100 rpm. How low is to low? Do I need to keep it high to keep water pumping through the engine? 
If you have a flat tappet (non-roller lifter) camshaft, then I suggest you keep your idel speed at 900 rpm or above (900 rpm-1100 rpm). This will minimize the possibiliity of wiping your camshaft. 5 MPH Zone boat speeds may be regulated with your forward/reverse lever.
The higher your engine's operating temperature, the longer your engine will last (will wear less). There is nothing wrong wtih 160* F and in fact my jet boat operates at 160* F at speed; then when I come into a 5 MPH Zone, the water temp spikes to 190* F and then settles back down again. Constantly running hard at 130* will accelerate engine wear, especially in the forward two cylinders. Conversely, running hard at 160*+ risks boiling over when you slow down, so pay close attention to your water temp behavior if you decide to slightly close your gate valve in search of a more "normal" operating temp.
LO