Are you talking about a Johnson 2-stroke?
If so, they had 1.65:1 gear reduction which would be better suited for a speed oriented electric conversion.
With that ratio, your prop may have been achieving 3000+ RPM at WOT and 500 rpm can make the difference between getting over the hump or not.
One thing you don’t want to be doing is running your electric motor at semi planing speeds all the time unless you have plenty of battery capacity.
Prop size, material, RPM, gearing, pitch, blade count, etc.. it all matters.
Personally I think the original plan of using a compact brushless motor underwater is the better way to go for high performance.