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Not worth fixing.----A motor marketed as a Mercury.----Marketed as many others as well.

As per usual the seller just does not know what fits what.----That unit was NEVER offered on a 200 HP and only fits the 2 cylinder models.----Your location in Canada?

Look carefully.----There may be lifting lugs on the block.

Who said it needs new parts?----Does spark jump a gap of 5/16" on both leads ?

Perhaps an issue with reed valves and / or crankcase compression??----Sorry, I can not see or touch your motor.---Just adding some things to check.

Was water pump impeller replaced every 5 years?

The bolt with the rubber tip controls maximum spark advance.-----It should NOT be adjusted.----May result in $$$$$ repairs.-----Have you installed a new water pump impeller?----And post the actual compression values here.

There are no " vacuum " lines on that motor.

Johnson outboards run just fine with NGK plugs.

It is the wires from the stator to the powerpack that should be inspected.-----Also look carefully in the rubber plug in connecters.----A pin / socket out of place can be the issue there.-----All simple to check out in my opinion.

I doubt it is a fuel issue.----Instant improvement points to a spark issue.---Could be a broken wire.----Could be the powerpack.-----Those factory pumps are very reliable.-----And so easy to install a new diaphragm !!----Run with a timing light to check for spark issue.----One cylinder at a time.

Leasing is best.-----You can't lose nearly as much as buying one.-----They lose value very quickly.

I am not sure if S.L.O.W. was on that motor.----Model # of this motor is ?

Run with a timing light.----One cylinder at a time.----Will help you determine which cylinders are losing spark.----And do you have a water separating filter?----Could be a plug wire shorting to cowling as well.

I believe those use a solenoid for UP and run direct through the switch for down.

A V-4 gets best fuel economy around 3600 / 4000 RPM.----A 100 HP at 3600 RPM might run as economical as a 50 at full throttle.

The 2 cylinder 50 appears to be similar in design to a Scott Atwater or Mc Cullough.----In my opinion.

Run fuel out of carburetors when motor sits for a week or more.----There is no need to " rebuild " a carburetor every season.----What other trouble shooting was done??

???----Year / serial # of this motor must be posted!

Welding is not a good idea in my opinion.