Experiencing a strange problem. Engine is a crusader 5.7 vortec with 4bbl Holley, 315 hp, a replacement for same mercruiser engine (mercruiser exhausts and risers used so as to fit boat). Electronic ignition. Engine has 60 hours on it. Fresh water cooling, alpha I stern drive in a sea ray. In august it began to experience very difficult starts. When it did start, it would run very rough for about a minute or two at about 1500 rpm, then would smooth out. Belched a lot of black/blue/white smoke out the exhaust while this was happening. Thereafter ran and idled fine, 5200 WOT at >55mph. Same symptoms with muffs on on trailer. Noticed that even when shutting down a warm motor for few minutes, symptoms would reappear on restart... lots of thick smoke from exhaust (black/blue/white). Seems to flood easily (one pump of handle before start.. engine becomes flooded). So.. is it the carburetor (new Holly, electric choke, on E10 unfortunately), or is it a leaking gasket between fresh water/sea water systems in exhaust riser (spark plugs 1 & 2 clean... did not pull others)? Is something cracked? Or what?. Has me baffled.. .