As you can see from the list of APBA records posted by Mobilemercman (thanks for the link), Russ Wicks does, in fact, hold the current APBA record for prop-driven boats with an average speed of 205 mph and change.
Yes, there are boats out there right now that can go faster (Wicks actually hit more than 220 mph in his Unlimited hydro when he set the record), but the APBA record isn't a "hit the peak speed and record it" affair such as the Lake Rescue Shootout, where the Callan boat reached an amazing 209 mph. It's an average speed over 1 mile (T2X, correct me if I'm wrong) for two passes made within 10 minutes of one another. That makes it challenging, to say the least.
APBA is the official domestic sanctioning body of Union Internationale Motonautique (UIM), for what it's worth. That doesn't make it the be-all and end-all, but it does provide a measure of consistency, accuracy and verification.
Whoever described the pursuit of speed on the water as dangerous knows his history. The list of those who have died trying is long.