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1998 Kawasaki 750 XI Sport jet ski wont stay running?

I just bought this ski and it has some modifications to it but nothing major.. The first is the fuel switch attached to the side for main, off, or reserve "not the choke" has been rerouted to a no fail on off switch only so that there is not diaphram to collapse on the water. Also the oil pump has been removed and the oil and gas are premixed at a 40:1 ratio. Ok so the problem. Went to the lake today and ran this ski for 2hrs. pulling a 70lb. child on a tube with it. It worked well for the 2hrs and then suddenly died. I noticed a small but instant cut out of power when i tried turning the ski left or right on the water but it would only happed once in a while. I took the plugs out after a while of trying to restart the engine and they had a very light amount of what looked to be oil on the plug but not much. I cleaned the plugs "guessing they were good still" and put them back in the ski, but no luck. I checked the pisser and it was working properly, however the water coming out of it was very warm. Prolly 140 degrees or so. The ski could sit for 20 min. or so and would start and idle rough and then as soon as I would try to accelerate any it would die. then again. Took the ski home and can get it to start and idle for a little bit but as soon as i accelerate it dies again. Any Ideas would be great. Not sure where to go from here. It appears to be getting some gas so I know its not dry. So guess the fuel pump could be weak but it is not at all out, because i emptied the fuel filter because it was more full than it normally is, and when I started the ski fuel went into the filter but the ski again will die when i rev the engine. Can't seem to understand how it ran fine for 2hrs. and then dies and wont rev. now. The choke was off when running it for the 2hrs. and it ran pretty well. just a small sputter on turns. Also I have a sediment bowl on the ski with one line runing to the tank and before it gets to the tank it has a one way valve on it. then the other hose that runs out of the sediment bowl runs up by the handle bars and is up in mid air by the bars but in my service manual shows it doesnt go to anything but... the sediment bowl is always bone dry? ? should it get something in it or ... could there be a reason for this? and do you think the not running problem when trying to accelerate could mean a carb rebuild..or should i try a new set of plugs and new fuel filter first since the fuel filter on it is like a clear see through paper one??? PLEASE HELP ME