Same problem
I have a similar situation with my Yanmar 3GM. After rebuilding the engine with new pistons,rings,cylinder sleves, connecting rod bearings (and one new connecting rod), injectors and overhauled head I find that wot is 2900 in forward underway and 3450 in neutral. I also found that tied up to the dock in forward the best I could get was 2600 in forward and 3400 in reverse. There gear ratio is different in reverse than in forward, so that is not surprising. However, just recently I decided to inspect the mixing elbow just to make sure and found some coking right at the input to the elbow. I had replaced it three years ago so I did not expect it to be a problem, neverthless after I cleaned it out with a wire brush I found that it is pitted quite bad, almost to the point that if I were to use it again it would probably start leaking from the inside. The outside of the unit looks brand new.I plan to replace it and also the waterlift muffler with a bigger one. If that doesn't get the rpms up to what it is supposed to be, looks like I will be back to square one. Anyway, in your case you really need to take a close look at that mixing elbow.Good luck with yours,Ernie