I don't think gap is the problem. Definately lean, lean, lean, although 1 plug looks kinda ok, and probably some timing issues. Yeah, get some decent MATCHING plugs......
I didn't quite get your first post. It's spinning to 3800 rpm max, and for how long before it seems to "lose power" and rpms drop? What impeller is in there, and what pump, for that matter. Could be important.
Personally, I wouldn't run anything under an 850 in any BB jet boat if I could help it. But at 3800 RPM on a 454, you certainly aren't running out of carb. And that is where I'd be looking. As said, secondaries not opening, severe jetting issues, as lean as you are, and the very low rpm, I'd be swapping carbs. But I have a few extra around here to do that with. At the very least, run it, then look down it's throat, not running, and open the thing up manually and see if the squirters are working on all four corners at least, but you're look at a carb overhaul at minimum.
Ray