I recently purchased a 17 ' boat with a 1978 Johnson 115 V4. Compression is good ~125 psi (+-3psi) for all cylinders. I rebuilt the carburetors & fuel pump after finding that the wot speed of boat was about 9 mph. Butterflies open all the way with advanced throttle. Sync appears good, at least as best I could follow the manual. I suspect ignition timing is not advanced or (advancing enough). I have a timing light . I believe the previous owner may have pulled off the flywheel. When I put a dial indicator into cylinder one and rotate flywheel to indicate TDC on that piston the TDC marking on the flywheel is about 2 inches away from pointer. 1) Is it possible to install the flywheel and have it indexed this far off ? 2) Can I create new timing marks and attempt to time engine off of those or would it make more sense to try to pull flywheel and reinstall correctly ? Or am I barking up the wrong tree ? Any guidance would be greatly appreciated ..Thanks