Re: 1955 , 5.5 hp Johnson ,need little help
Yep, I second that. I would go through the entire ignition system and refurbish it. Once you do, it should run like a cut cat.
Also, a good reference on your needles is 1 1/2 turns out, from gently seated on your low speed and 3/4 turn out from gently seated on your high speed. Take it to the lake and fine tune the adjustments. I have found on those old 5.5's, the high speed likes to run at around a half turn out and the low speed, about 1 1/4 turns out. Make small adjustments and allow a few seconds of run time, to let the motor react to the adjustment.
Excellent motor you have. I own 4 of the of 5.5's