Re: mercury 25- What Next???
Not sure what year you have, but I think the 25hp Mercury is a good motor.
My thoughts (some of this you may have done already)
*Get a factory manual, check ebay
*Check the compression, needs to be 100+psi
*I assume you are getting good spark on both plugs
*Make sure the carb float setting is correct and the fuel diaphram does not have pin holes.
*Check out the coils, trigger and stator with an ohm meter. Also make sure your coil wires are grounded well along with checking with the rest of the wiring for good connections and good insulation. Also make sure the trigger advance mechanism is working well.
*Check the small hoses that contact various parts of the powerhead for deterioration and thus leaks.
*Check the reeds by pulling off the carb and putting your hand over the carb opening. It should pressure and suck and you spin the flywheel.
*If all of above checks, I would guess the switchbox is highly suspect. I do not know of a good way to test the switchbox unless you have expensive test equipment.
Hope this helps. If you decide you do not want to fool with it, I might be interested in buying since I live in Opelousas.
Good luck.