This 7.5HP is pretty old (1977?)..Starts fine and accelerates but after a minute or so, shakes (misses) and loses power, hesitates and regains strength. Then repeats...Have played with the carb but does not seem to affect...could this be the coil ?
To trouble-shoot, I'd try a tank, fuel line and bulb that you know are good,with fresh gas, if it still acts the same, try choking it a bit,check the spark plug, then points.