TJ...
Having driven white water boats for nearly a decade, let me tell you that what you are experiencing is very dangerous, so please be careful...
Now that that is out of the way.......

I would try eliminating the wedge for now (you can put two wedges 180* out from each other), giving you 0* down and "zero" the ride plate. This is your starting point. You should be able to get a little more Diverter out of it at this point. On a hull like yours, i would say optimum rooster height would be about 6' high( but may take more/less depending on the center of gravity.
The droop being down with a raised rideplate is more than likely causing a rocking chair effect and is very scary...
I have probably already seen pictures of it, but do you have an early or late Diverter design? the early ones cannot be used with a droop, the later ones have a flat ride surface on them that works very well with the droop...
Good luck and stay after it, it sounds like that thing is going to be stupid fast....be careful...

GT