Sounds like an intake issue to me. Run a straight edge on the bottom of the keel and see where the biting edge of the shoe is in relation to the keel. With that kind of power in a g-wing, the problem should be trying to keep it IN the water. X2 on the earlier post to hit up Jack at MPD. With some simple measurements he can tell you over the phone what the most likely cause is. Also, depending on how old the boat is, put the straight edge on the strakes and see if you have a big hook in the boat, that will take lift away as well.
Does it do anything funny on shut down? Also, 7000 on a stainless A sounds a little suspect to me. I know you've got some power but that's a lot of revs out of a A. Could be loading issue. Post up some pics and let the guys here take a look. The good news is you should have a 100+ mph boat once you get it figured out. RD