I thought this performance chart was interesting.
The boat is a similar hull design to yours. She displaces around 4500 lbs with motor, crew, gear and fuel.
The Evinrude engine is smaller than yours, only 200 HP, but is a two stroke and can obviously generate a lot of torque at low RPM's. You won't get the same economy, but the engine is similar to yours and the relative results of speed to fuel consumption should be very similar.
Some things jump out immediately.
First is the incredible fuel economy of the rig if you had the patience to creep along at 3 MPH at 500 RPM. I think if you told most people it was possible to make a 16 mile trip in a 4500 pound boat with a 200 HP two stroke outboard---and do it on ONE gallon of gas---they would call you crazy.
But in real world conditions, even if you had the patience to creep that slowly, it might not be possible. Wind, current, chop, etc., would probably force you to increase RPM's just to keep a steady course.
If you look at the fuel consumption column, the overall efficiency is not linear.
Once the probably most realistic minimum speed is achieved---4.5 knots at 1000 RPM, there is a steady drop in performance until optimum planing speed is reached at around 3500 RPMs. At that point efficiency increases from 2.5 to 3.4 MPG---and falls with increasing RPM's after that.
But look at the drop in efficiency between 1000 and 1500 RPMs. It is huge. The boat in question has a displacement hull speed of 5.7 knots...after that, it becomes a planing hull.
I hope I am not sounding like a snotty yachtty, but if you have the time, figure out your boat's theoretical hull speed. It is very easy. Just take the square root of the boat's length at the water line in feet (LWL) and multiply that figure by 1.34. After that, increasing power from the engine turns the boat into a planing hull and radically increases its speed potential.
I guess the point I am trying to make in my own bombastic and long winded way, is that you might find the best realistic fuel economy for your boat at right around its maximum theoretical displacement hull speed...
Have a great weekend !!!