So you have clamp on forks lifting something weighing (heavy but not sure how much) with a loader rated at 705lb at the pins; you don’t have much time running the loader or similar equipment; and the bouncing was only when it was lowering too fast and you released the lever. Put all that together it makes sense even if there’s nothing wrong with the tractor/loader.
First off, the 705lb rating (I looked that up so if tractortechspecs is wrong, my apologies) is at the pins. That goes down a good bit as the weight is is extended out to the front edge of the bucket and then even further out beyond the pins by the forks extending past the bucket. So are you pushing the limits of the loader? Not a clue. Don’t know what the load weighs and don’t know what the loader capacity is way out past the pins where the load actually is. However, if it will lift the load it should lift and lower smoothly.
The bouncing is when it’s lowering faster than you want and you release the lever. Been there. Done that. That’s on you. You move the lever a little too far, it’s lowering too fast, you really want to pull it back just a hair to slow it but if you take your time to get it perfect, the load will have slammed into the ground. So you end up stopping it by releasing the lever back to neutral and it stops instantly. If the load is heavy, that instant stop is a significant impact. (Bounce) Even worse, sometimes it impacts hard enough to rock you and the whole tractor so your hand goes forward a little knocking the lever forward and now the load is dropping again but we don’t want that so back to neutral. (Bounce 2) My level of incompetence back in the day was so awesome I’ve actually gotten a bounce, bounce, bounce out of that scenario before getting my feckless mitt off the loader control.
Maybe there’s some issue with the control. By all means make sure the linkages are all clean and lubricated. More likely the issue is you need more time with it.
My early learning experiences were with dirt, rocks, and logs. I’m glad they weren’t with expensive boat motors.
So a suggestion before your next boat motor project. Figure out about what this boat motor you’ll be lifting weighs. Load your forks with a log or pallet of firewood or scrap metal or some similar robust item(s) of similar weight. Practice. Slowly barely crack the valve to lower the weight. Hopefully it will lower painfully slowly. Focus on control and get comfortable without worrying about how slow you’re lowering the boom or tilting the forks. Speed will come with practice, but control must come first. Concentrate on control with a load that won’t get hurt or cost you $ if you drop it.
If there is simply no way to lower the load with control, then start looking at potential problems with the valve. You might have a problem with the valve, but not highly likely based on symptoms described.
Edit: BTW, when I suggest practice I’m not talking about some daily regimen for months. More like get a similarly weighty load and mess with it for 30 minutes to an hour and you should be ready to confidently deal with a boat motor.