Replace the poppet. Iboats may sell it, look at the top of the page under Boating Parts and Accessories. They sell a lot of Sierra after market parts and OEM. I have used both from them and both work for me.
Get several cans of Sea Foam engine cleaner. Wall mart and most auto parts stores sell it....$6.50 per pint range at WM. It says to add 1 oz per pint of your regular fuel mix if premixing, or if engine has an internal oil pump and you are using that then 1 oz per gallon of gas. However for the first couple of cans, triple that amount. Give that time to clean up your fuel and combustion systems and then come back with how it runs after that and we'll go from there.
Having answered my question as you did, about after idle WOT ran fine, I don't anticipate any major problems with your engine. I don't know what oil you run in your Merc. currently, but I like the Pennzoil Super Premium TC-W3 available in the WM sporting goods section. It's semi-synthetic and half the price of Merc oil. It burns real clean, almost no smoke.