Steve,it is running too deep but it also looks like you didn't trim the motor out once underway, that will help. I ended up replacing my pod which changed the dynamics but I guess you don't want to go down that path. Basically for every 300mm past the transom you need to raise your cav plate 25mm. Your pod looks a little different to what I've seen in that the top has a lip, is it 1600 mm long. My mate with a 195 (same as mine) is going through the same process. He is going to get an alum plate probably 20mm or 25mm thick, ive forgotten the grade but bolt that on with countersunk bolts and rebolt the motor higher. If you go down that path make sure you can go either up or down at least one more hole.
Did they put an extra long shaft on by any chance, plenty of people out there still trying to line up the bottom of the hull with the cav plate.