Brown pudding may be due to old and sometimes wrong grear oil ..
you could try a qwick refill and run the engine a while and recheck the oil. if you see no signs of coffee cream color you may be ok . you can alsways dump the oil again and refill. openning up these gear cases is a bit tricky on the rebuild side and some don't bother and just refill the GC mid-season and at lay away time. pull the prop check for bundles of mono... remove it as it can spin inside the GC and destroy the prop shaft seal.
you can always drop the GC and just change the impeller. Lots of utubes to learn from and documents like Leroy's on the early MQ series
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nothing you can't learn about the gear case but tricky. Same goes for electricals which wil require a check on coils for bad cracks. new coils are needed with condensers and the points can be just cleaned up for now.
IF you do change the coils replace the plug wires and boots with solid strand 7mm core copper wires ( used on motor bikes and lawn mowers.)
DO NOT use resistive carbon fiber core plug wires
http://www.leeroysramblings.com/johnson_magneto.htm
check to see if you have sparks. the carb will likley need a good cleaning of passages and orifices...nothing extravagant (see Leroy's) .
lots of help availble to get your oldy going so don't dispair it is a great hobby and no known antidote exists
