Late last season my 2003 Mercruiser, 5.0 EFI Bravo III developed a backfiring sound at WOT, a "pop, pop, pop" sound. It would stop when I backed of on the throttle. I replaced plug wires, plugs, fuel filters to no avail. This season, the problem persisted with difficult starting, bucking and sputtering. Once running, the engine would idle fine and seemed to accelerate ok in neutral. However, under load the backfiring continued and yesterday, a total loss of power occurred. The engine just bogged down when the throttle was advanced, no power and the engine eventually stalled. Now it will not start and just sputters and bucks when you roll it over. The oil pressure and temperature seemed ok, there were no alarms. There is no water in the oil and no leaks. However, the tach was floating up and down occasionally. Am I looking at a rebuild? or could it be something more simple like a faulty oil pressure switch, electrical or fuel issue. Could there be a fault code that would point me in the right direction? The engine is raw water cooled and has 350 hrs on it. All comments appreciated.