Have you checked that you don't have a duff bearing in your motor? They can heat things up as well. As far as I know the bearings are fairly tight in Novak motors.
If all else is cool and you say that it is so direct to the point of having to turn down the EPA it could well be undergeared and revving it's nuts off. How long does it take you to get up to speed? Is it kind of instantaneous or does it feel progressive? If it feels like an on/off switch that would be another indication of undergearing.
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