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How did it run for you last season?-----Could be running on 2 of 3 cylinders.----Post the actual compression values here.----And does spark jump a gap of 3/8" on each lead?
All the inline 4 with the 4 carburetors were the 2+2 configuration.---Not the best motor for a pontoon.---Best option in my opinion is an OMC model V-4 of crossflow.----Find one to rebuild and you will have a smooth running motor for 20 seasons.
The one in the picture looks very good.----Clean and set points at 0.020 and check for spark.----Then set using the flywheel to get maximum spart at the right time.----The timing tool ( I have them ) is nothing but a " dummy flywheel " a shop time saver.
I believe the shift rod rotates COUNTERCLOCKWISE to get neutral.------Or rotate it counterclockwise till the spring resists.----That is forward.-----This should be easy to solve,