AQ125a timing issue?

Once again, I am back with another issue. I think I have narrowed it down, but need to know how to fix it. Back ground on the boat, it sat for several years, I have replaced the plugs (and gaped them), wires, re-built the carb, changed it over to electronic ignition, and replaced the timing belt.
Now for the issue, when I set the timing, I had it set at 10 deg BTDC, and it ran a little rough. While on muffs I could throttle it up and around 3000 rpm, it would die. but if I pushed it over to full throttle, it would stutter and then RPM up.
Out on the water today, it would idle and go into gear fine, but when I would hit the 2000 mark it would die, unless I throttled it back. Once again if I could "Finesse it" it would push past the 2000 rpm mark sputter, almost die, and then rpm up to 4000 rpm, it was rough, however it would run I could throttle up and down between the 2000 to 4000 rpm range with little issue, but when I went below 2000, the issue would start all over again. I brought the timing light with me, and I verified the timing, and that is when I noticed my big mistake.
I had the timing light placed on the #2 plug wire! I tried moving it to the #1 wire, but could not find the mark.
So here is my suspicion, Somehow when I replaced the timing belt I got the distributor off on the gearing????? Am I right in suspecting this? If so, how do I correct it? Also, while on the water, I pulled the plugs and found the #4 plug was mashed. I re-gaped it and then verified it was OK after I ran the engine a bit. Any input is appreciated, and if I am way off, please let me know.
Thanks.

Re: AQ125a timing issue?

OK, after speaking with a friend who does a lot of vehicle rebuilding he came up with a few suggestions, so before I try them, I thought I would post them here to see if anyone could add some validity to them.
#1. The cylinder configuration on the engine, my assumption was they run from 1 to 4, from front (belts) to back (Bell Housing), is that correct? For reference I was on the second wire back from the timing belt.
#2 He was thinking that if I was off to where I could time off the #2 wire, it would not even start.
#3. He suggested to rule out or rule in a fuel issue, is that when I have someone go to WOT, and it normally starts to die, I should slowly feed fuel into the top of the carb. this would verify that if it was starving for fuel or not. (On this, I noticed that when we went to WOT, the upside down "J" tube would get a few drops of fuel coming out, is that correct?
Anyone have any thoughts?

Re: AQ125a timing issue?

Follow up, I tested with a turkey baster and injected fuel into the carb (A Solex 44 PA1 down draft) when my son accelerated and came to the 2000 rpm mark. It throttled through with no problem as long as I fed it fuel until we hit the 3500 rpm range, so that took me to troubleshoot a fuel issue. I purchased a carburetor rebuild kit from mikescarburetor.com for $34 and did a rebuild. On tear down I discovered that the line inside the carburetor that goes to the "Upside down "J" tube was clogged. I cleaned it real well along with all other parts and reassembled. I had it out on the water today and verified the timing and it is now running like a champ. There are a few other issues like figuring out the correct prop, but I will be off to the dry dock to start the tear down and complete floor, interior, and transom re-build before next summer(Hopefully).