I will post another photo tomorrow with the straight edge coming back from the keep, but as far as I could tell by eyeballing it this evening, the cav plate is less than an inch above the keel. I should also note that I realized the angle of my motor might be a little too far trimmed up (not sure how much of a difference that makes, but one more thing to consider).
Folks have already chimed in about how the motor runs...I've kept up on motor fluids and no starting problems etc. since I bought it in 2009. I do NOT have a tachometer hooked to it and have not clocked the RPMs. On my previous 13' Boston Whaler, it pushed the boat about 28 mph, and I think I'm getting around 21-22 on this boat (significantly heavier than the BW). As I think I mentioned already, I have a jack plate that I'd gladly put on if the collective wisdom is that it would make a major difference based on the rest of the geometry.
I'm also willing to take off the hydrofoil; not trying to over complicate the setup, but it was something I tried--and have noticed an improvement by at least a few mph--when I started to question the performance of the motor setup.
In terms of my concern about performance, it struggles to get up on plane. It gets there, but I suspect it should have too much trouble pushing a 14' jon to plane, especially if not over loaded with gear. (I typically run it with a bow-mounted trolling motor, one battery, basic gear (life jackets and such), and me and my two boys.) Again, I greatly appreciate everyone's advice...