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You arent going to low to mid 70's in a predictor with a stock '86 150. Nor would you want to without a steering upgrade. Low 60's. 65 GPS with the current on a cold day Too much of a prop and you just won't get into your power range. You can bolt a 26 pitch prop to it and it will turn but if you cant get over 4800 RPM its not doing you any good.
I think I was hitting just shy of 60 (say 57-58) with my 150 before it ate a piston. Definitely want at least double cable steering.
There are a few predictor/150 merc combos on this board running over 70, one of them being on the same lake as me. Important setup items include a jackplate, scoops or low water pickup, water pressure gauge and at least dual cable steering or better.
Does yours chine walk? my 86 predictor with a 140 did it really bad.