Am I sunk?

My boat sunk. Parially that is. (A big blow created swells that washed over the stern and ...) Anyway once it was empty I attemted to start the engine a few times. It would crank and stop. I reasoned perhaps a cylinder had water it it and yes indeed, the bottom cylinder had water. I blew out the water and cranked it again. It does not yet start (I think there is water in the carb) but it cranks really fast, to fast. I am afraid that the valves are not opening. Could I have broken a timing chain or whatever opens and closes the valves. Or maybe blown the head gasket or something like that?

1976 85 hp Mercury Thunderbolt. For cyl.

Re: Am I sunk?

There are no valves, there is a timing belt, but that wouldn't have broken. Most likely you have some problems with water in the carbs, and fuel system.
The motor should be taken apart to some extent. Remove carbs, fuel pump, spark plugs. Take apart the distributor, etc. You may have some electrical issues too. I guess the battery was still attached when this happend. So you may have to test the ignition system. IE do you have spark etc.

Re: Am I sunk?

I will check the spark and do the other things you suggest: Why do you think it is cranking so fast, or is it my imagination?.

Re: Am I sunk?

It your imagintation. The max cranking rate is fixed. The starter can only turn the motor over, at a fixed rpm. This is determined by the armature windings, number of brush's, and gear rtio's. The starter can only draw X amount of current max, which gives it, its cranking rpm. Now if you use a bigger battery now, then before, it might actually crank faster, but that would be due, not to a problem, but that the old battery wasn't putting out, the required amps to turn the starter at max rpms. Its also possible the water cleaned out some gunk, in the starter, and it can now spin at or close to the designed max rpm.
Even if you dropped compression, in a cylinder or two, that would still not cause the starter's rpm to increase much. . Most likely, its is just your imagination.