1977 evinrude problems

I have inherited a 1977 evinrude 75hp 75743s from my grandfather. The engine has not been ran in 12+ years and I am trying to get it started. So far I have replaced the starter, replaced the key switch, and replaced the battery. I have checked compression (it has about 120 psi per cylinder.) I have oiled the cylinders and let them sit overnight. The control box is in pieces because the grease had gone bad and the throttle was stuck in neutral. I never should have taken it apart, just left it in neutral. Lol but to late now. The engine is in a bucket of water, and I have taken the prop off. The engine will turn over and start, but it will start idling at about 2500 rpms and will begin to climb until I turn the engine off. Is it ok to run an engine with the prop off? I have not taken the carbs apart yet. Does anybody have any suggestions? Any help will be greatly appreciated.