Rick, I know you are sick of hearing from me, but I really enjoyed the pictures of your pedal boats.
I know you ran the drive shaft and mounted the prop on the side for ease of construction, but the round drive shaft and surface interference from the side mount of the prop may be the biggest single sources of drag at speed. It is why they fair the wires on biplanes, more parasitic drag from the wires than the wings.
It is just a thought, but with the prop mounted forward, below the hull with a faired mount, below the waterline, you would save a lot of drag. With a retractable rudder I wonder if you couldn't get it to run straight enough that you could retract the rudder for long periods of time.