The WHH wet pipe system is intended to keep the pipe cool when it is inside the hull and when it passes through the transom. It will have a slight silencing effect as well. It is "full volume" water flow and has nothing to do with performance in those boats.
For true tuned pipe benefit, a properly adjusted dry pipe system will make the most torque and power ( the more heat in the pipe, the better ). If you are looking for very high RPM power, the tuned pipe is shortened to get the highest RPM. But taken too short, and the lower RPM ( turns, launching ) torque will be lacking. By injecting a small amount of water spray at lower RPM into the header ( or close to the front of the pipe ), it cools the pipe. This slows the hot exh. gases to the point where the pipe acts as though it is longer ( increasing the torque ). After the eng. gets "on the pipe", the water is stopped, and the short pipe can build very high RPM.
So a high temp. pipe passes exh. gases much faster than a cool pipe.
One of the best pipes out there is the QD Hot Pipe. It makes great performance in all ranges and uses replaceable flex sections for tuning length. A lot of guys replace the flex with stainless tubing in varying lengths. Those tubes are a great place to weld a water fitting into, because they can easily be replaced without harm to the header or pipe.