I have a 2001 model 2850 Regal LSC with a 2000 7.4 GI Fuel injected 454 with 130 original hours. The boat ran very strong last summer with never a problem. The boat was winterized(block drained) and stored inside (year round) in a heated (55 degree min) warehouse in Georgia. I began the process of dewinterizing and changing fluids this spring. I decided to change the spark plugs and when I pulled out one of the plugs on the starboard side a little water ran out and the plug was rusty on the end. The other 7 plugs all had the same wear and did not look bad. The engine oil had no signs of water in it. The boat has the original engine and has had little use. It is raw water cooled. It had some use in salt water in the 1st 100hrs of use by the original owner and the boat shows no signs of corrision externally on engine/outdrive. The boat was in pristine condition when I bought it 1-1/2years ago. I am looking for some direction of where to start. Do I have a blown head gasket, cracked head, head thats not torqued properly. Intake manifold gasket issue???????? Please Advise Dan