Hood is mostly for looks. I recommend spending the hundreds of dollars on something that will give you punch. You've got a good start already but some other items will really put a smile on your face besides a new hood.
Footholds are first. A 9/15 hooker impeller from impros.com will really make a difference and I think should be second. A lightened flywheel and bored reduction nozzle will help with bottom end power. A proper high compression head with a girdle kit will prevent the cylinder from cracking and will most likely give you more power as well because the design is far superior over a milled stock head. You can buy an ADA girdled head , reduction nozzle ($59), and lightened flywheel ($105) from jetmaniac on this site. He's an awesome guy to deal with. A lot of people like the Tom21 footholds and are they are decently priced and much better than WDK footholds. He's on this site and I don't think he has a website. Here is the link to jetmaniac's master part list...
http://www.x-h2o.com/threads/85372-...-Used-Yamaha-and-Custom-Build-Parts&highlight=
Those items above will give you all you will need to really get into the sport. All of the items I recommended will cost only slightly more than a nice hood. Once you get comfortable with that setup, you can decide what direction you want to go after that. Whether it's a lightweight hull, bigger engine, or whatever. Lastly, WDK has "a reputation" and I think should look into before you buy anything from him and decide for yourself if you want to deal with him or not.