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#1
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At the time we pulled plugs and found Cyl 1 & 2 to be dry... Cyl 3 was wet with gas...
Gas in carb too... But in taking off plug wire 3 the wire came out of the boot and that was it.. Cal for the Tow boat with no way to fix the wire.. But after plugging in new plug wires it fired up fine..(4 hrs later) And by then it had colled down, gas evaporated chike thermosta had cooled... basically conditios back to normal.. 
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#2
08-01-2011, 11:05 AM
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I know you are on a lake with fresh water, but mine was in salt water and the saltwater ate away at the gaskets. Check your compression inthe cyliders or if you know someone with a scope, have them look at your pistons.
My engine had slow water intrussion and eventually burned 1,3 and 6. I kept losing power over a three year period, started and seamed to run fine on land with hose, but put it in water and it would start and stall right out when put in gear, turned out to be running on three cylindars. This could be worst case scenario for you.
__________________
  Bottom's up!!!
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#3
08-01-2011, 06:34 PM
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replace the points with a pertronix ignition, replace the coil while you're at it. You eliminate 90% of the ignition issues by replacing them
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