75 hp Mariner

[tsubaki]

Got a 1994 75hp Mariner that is putting out up to 17.25 volts constant at mid to high rpms.
This seems very high to me. Is this correct?
If not, does this sound like a regulator or is it a stator or trigger problem?

Also got a voltage leak somewhere.
When hooking up the battery, a slight arc can be seen at the battery post while connecting.
Is this possibly a starter solenoid, trim relay or something else?