Re: how hot should the stator be ??
Agreed with what was just said. I might add that the early ignition systems of that type (1973) had a problem with ignition charge coils melting even though there was no problem. It was just poor choice of material by the mfr. Those original melty coils were replaced with a stator that was one unit potted in green or blue epoxy, which solved the problem. That is what should be in your motor, unless it has also been replaced. So, who knows what is in there??? Might be an aftermarket unit of poor quality, or....? What you see running down certainly isn't that blue or green epoxy. Time for an inspection before you get stuck miles from the dock.