Shawn,
This is meant as constructive criticism not a personal attack, but if your intent was just to state your opinion (or actually how you would operate your boat during a sea trial) then maybe starting with the "this is such bu....." is not helpful or gives a bad first impression?? Just a suggestion.
And yes, your boat, your rules!
Personally I agree with Steve D. I operated my boat 95% of the time at about 1/2 throttle (12-1400 rpm) which achieved hull speed, so every 8-10 hours I would run the engine up to 2100 or so for 10 minutes followed by 5 minutes at WOT (2800+). The engine (a Cummins 6BTA M3) is rated to be able to run much longer than that at WOT, so well within limits. The purpose: to ensure everything is operating properly (no unexpected heat rise, leaks, overheating (I would use a infrared thermometer to check), no black smoke (which would warn of engine overload and/or an over propped condition), etc.), also to ensure the engine got fully up to operating temps, and to reduce any potential "carbon" buildup, as well as to check the turbo operation as normally there would be no boost. This "higher" than normal rpm run was usually done near the end of the day not far from our destination (when area appropriate).
As far as selling the boat and a sea trial, I would have no issue taking her up to WOT (after a full warm up) for 5-10 minutes for the buyer and mechanic to "check out" various items so as to know "what they are buying". I would not run her longer than that at WOT as it would not provide any additional info.
According to the "experts" (Tony Athens, Steve D., most mechanics I have talked to (quite a few), Cummins provided info, etc.), if an engine is not run beyond it's rating (in my case length of time at WOT) and is in good condition, then WOT for short periods is not harmful, and probably is good for it.
Caveat: I am not a certified mechanic, but am a relatively experienced boat owner who did most of my own maintenance, the opinions are my own, gained from experience, a lot of research, and talking with many "experts" whose opinions, training, knowledge, and experience I do trust.