What you need is just a cheap non-adjustable timing light. Advance in the timing light just confuses the issue. Set the timing light to Zero degrees (if this is a thing as I have no experience with this type of light.)
The advance should be per the book. Make certain that the #1 piston is at TDC when the 0 mark lines up at the mark. The flywheel should be marked at the proper advance.
Follow the link and sync posted at the top of this forum.
Step by step will help you.
A cheap tach that works off a spark plug wire will work. You have to take into account that the 2 stroke fires on every revolution so you might have to make an adjustment in the readings.
IF you are turning high RPM and not moving there is slippage either cavitation, prop hub or something else. The HP absorbed by the prop (or in my case the jet pump) increases on the square of RPM. A little difference in RPM makes a lot of difference in HP.
Here is a link to a service manual for the Sport Jet which is very similar to the L drive, but with a jet pump instead of the gearing to the outdrive.
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