those early 470's have the good carbs on them, if you haven't already. Do a compression test. Check your timing. I highly recommend doing an electronic conversion on the distributor(it will help with the idle issue). try and set the idle mixture screws with the boat in the water, it should idle right around 750-800 rpm. Look down the throat of the carb, if you have fuel dripping off the boosters, you have the idle speed screw set too high. Start with the idle mixture screws at about 1 1/2 turns out from lightly bottomed out
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