I've been boating for 40+ years. All the outboards I've had were either Johnson or Evinrude. My last outboard was 1999 175hp Evinrude (fitch version). After several years the Evinrude quit and after a long discussion with different dealers, I decided on Mercury Outboards. The biggest problem I encountered was that regardless on the manufacturer, there was a 52-week lead time for a loose new motor. So, then I began looking for adequate used motor and ended up getting the 2005 200hp Mercury Optimax rebuilt. The price was far better than buying new, and it only took a week to get it. Anyway, my problem is water in gas the and the water sensor on the outboard is sounding off. Yes, I did have water in the fuel. I drained most of the fuel until I saw no more water. The alarm was and is still sounding 4 beeps every two minutes. I also checked both oil reservoirs to make sure it wasn't low on oil. Oil levels were fine. As for the type of gas, it's always been regular unleaded. I have never used rec fuel in all the years of boating. I added a water separator, which shows no water in the gas. The gas isn't cloudy looking like it did when this problem first began. I've added ISO-HEET to help remove any remaining water that didn't drain. I did not remove my floor or tank mounted gas gauges (two tanks) to if see water remained in either tank. Gas has Mercury's fuel stabilizer, quick kleen, and quick store in it from winter storage. I open to suggestions. I'm going to drain the vapor separator again tomorrow to see if there is any water from either port. Again, any suggestions would be appreciated.