First off the valley cover needs taken care of, the valley cover being sealed is important for the engine crankcase vacuum setup. I doubt it has much if anything to do with your boost issue but those bolts should not have been left out. If they hit then it needs addressed in another fashion but dont leave them out. It seems to me you either are getting belt slip in some form or you have a inlet restriction. Get the valley cover fixed first, then try taking that filter sock off and see if anything changes. Check your inlet for any obstructions, did you buy your blower new?

 

Ok. I'm call Maggie dealership in California. And I'm ask them