Re: 7.5 mercury 1970 model questions
You definately want to change the impeller....On second thought, get a complete pump kit either Merc or Sierra will do fine.
Spark plugs would be a plus too. If there is rust on the plugs, be sure to soak them with penetrating oil before you try to remove them. Sitting in a place with moisture can cause corrosion and if you torque too hard to get them out you may strip the threads on the head. It is aluminum do not forget.
A tune up may be in order too. The points could be corroded and the condensers may be bad. At least do the plugs and pump and see if she starts. If she starts hard or won't start at all, then you will have to do the points and condensers.
Other things to check before starting would be the condition of the fuel lines and the condition of the fuel pump. Look for leaks when you connect the fuel line and pump up the ball.
Water pump, fuel pump and tune-up kits are still pretty available for those. If you have a hard time finding stuff, check
http://www.oldmercs.com