Yamaha 200 Head Gasket? Water?

Hunter35

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Apr 15, 2008
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Help, please. I have a 1987 Yamaha 200 that recently started taking more time than usual getting on plane, but then "kicks in" and runs fine. Put in new plugs, but found that bottom two have a brownish/whitish goo on them, looks like water. Compression test shows 118 on #6, 120 on #5. Other 4 range from 127-135. I've been told that either block is rusting out, head gasket is shot, or valves need work. Ran compression with a shot of oil in cylinders and did not notice any change, so rings seem ok. Any ideas, and with an engine this old, is a repair a wise idea?
 
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