7200, I think, is the point that RAVE valves are supposed to go full open. So if you're still having trouble after fresh plugs and y-pipe bolts, I'd put the sled on a stand, with rave cover off, and rev it out. See if valves go full open or not. If no, check vacuum lines to valves. If those are ok, pull valves and clean then retest. If they do open all the way, and it goes to normal peak rpm, I'd suspect fuel pressure drops off when under load (as suggested above). Check fuel pressure regulator, in the tank (they pop out, just reseat, add 1/4" washers to the hold down screws). While on the subject of fuel system, change fuel filter (the external filter). I forget the part number but there are non Doo fuel filters for like $5 that work great, just need 2 fuel injection hose clamps to replace the factory crimp clamps.
Edit: for others' future reference, also check the aluminum RAVE nuts. They could have come lose, so valves don't open completely.