Haven't had a chance yet to touch base with my mechanic but I took this short video of the buggy jacked up and running. The clutch is engaging somewhere between 3000 and 3500 rpm. I didn't notice anything slipping but as you can see the power is not reaching the wheels.

http://youtu.be/Pnc62uO5FYk

I'm not a fl350 expert and maybe its the video, but it seems like your tach is way off. doesn't seem like the Engine is running that well. something is failing could be ignition or fuel system. It also seems to me like the belt is to long or maybe worn beyond the limits. It looks like a aftermarket belt. the driven clutch does not open is it because of the belt, or because the Engine is running poorly, or is the clutch bad? Do you have it in gear in the video? Could the drive clutch be bad and not engaging properly? make a line with a sharpe on the clutch face. the belt will wear it off and this will tell you how far the clutch is engaging.

Just my observations watching the video. I go through each system and ensure things are in spec, per the manual.

I'll add my 2 cents and say that power block clutch looks to have one hell of a wobble to it....at least the outer face anyway.

I have to agree with rmesser that your Ody isn't revving out correctly and I also think the tachometer may not be reading the actual rpm.

Sounds like it has a bad miss to it.

Rand

Ya, I know...it's a crappy video with lighting and positioning my ipad. The video showed both in gear and out. So many potential things...like to get it narrowed down. Is it possible the change switch is still causing the problem. I have it hotwired but maybe it's not convincing the CDI (Capacitor Discharge Ignition) otherwise.

Please explain what you mean by "hot wired".

To see if it's the rev limiter, put it in reverse and see if it behaves the same as in forward.

To properly disable the reverse rev limiter, both wires from the change switch should be attached to the negative side of the battery.

Rand

Yup, that's how the wiring has been done. The Engine starts in gear. I'll have to try running it at speed in reverse to see if there's a difference.

Looks like your drive clutch aint't doing poo. At least it looks like it to me and like others have
said here I too think your tach is way out. That didn't sound like 5000 rpm to me.