Ill post a little update here.
So, I went out and was getting set to do my tests. I was able to acquire a remote starter dealio from a co worker. it wouldn't work. every time I hit the button on the device, it'd push the starter gear up onto the flywheel and give it one little "brrrvrrp" twist, and back down it went. like I had no battery power. which I did. unsure what I was doing wrong there.
SO..i put in an inline spark tester and went to try the key ignition. was sunny, took me a few turns and correct shading of spark tester to see if I was getting spark, which I was. On the 4th or 5th crank, the dang motor starts out of nowhere. Soo essentially my troubleshooting came to an end. No idea what the ghost failure was.
SO, next I run compression. last test was 120 up top, 115 on the bottom. I'm now down to 90 on bottom, same strong 120, 122 up top. so it seems I have more serious issues at hand. I leave the motor all week.
fast forward to today. I decided to go grab the boat, to do a little put put around on the river then afterward to a nice de-carb this weekend.
Fill up the garbage can, aaaaand I'm back to square 1. No start. I sat out there for almost 2 hours until she finally started. at one point in my efforts, it'd crank once, abruptly stop, and id here a shock type sound coming from what I thought was one of the power packs on the left side of the motor. sounded as if you grounded out a positive battery terminal. like an electrical pop. happened numerous times. was odd.
Finally decided to relax and leave it alone for a bit. I go grab a Corona. I come back and try again. Low and behold, she turns over. Then once warmed up< starts first crank every time. I am so lost folks. no clue even where to begin. figured if anyone reads this update, maybe my details will spark some memories.
and before anyone asks, yes I did have spark, fuel during this last go around. Checked everything once it wouldn't start after an hour...
OH almost forgot. I finally canned the VRO. with everything going on, I need the peace of mind in that area. don't want to keep sucking water out of the reservoir, or risk further damaging a powerhead.
Big thanks to Sutor, whos been giving me 1 on 1 assistance over the last couple of days, and everyone else whos taken the time to help me.
I do still think theres some failure somewhere in the motor. the fact that it runs and starts fine everytime after the initial BS confuses me.
Plans are to re run compression test after the de carb, and go for head gasket from there if no improvement. any further suggestions on that, and the starting issue would as always, be greatly appreciated. Thanks guys!