Some more tinkering tonight.
Managed to get the neutral start switch activator and shift cable adjusted. That's working OK now, but I had to move the switch activator nearly to the end of its travel to put it in range. Odd.
Sneezing. It's sneezing and every time it does, there's a jet of smoke coming out the side of the motor, seems like it's from the fuel pump area. Not coming out of the crankcase centerline, more like the bypass ports. What the ???
Tested the water gauge with my bike pump that has a gauge and it's working pretty much dead on. I pulled the hose off the pressure fitting on the top of the head and got a piddly little stream of hot water. Doesn't register on the gauge. Lots of water spraying out of the exhaust relief ports at idle. Head is a lot hotter than it should be. Something's wrong with the pump unless thermostat/poppet.
And finally, the carbs are slightly open at idle. Looks like somebody messed with the linkage. Guess I'll have to do a link/synch. Is there a procedure for this motor on iBoats?
This is with the gearbox in neutral, as found. Note the alignment of the switch vs the actuator.
Sneezes coming out behind the terminal block below the power packs: