Re: Patch, then rebuild next winter?
For follow-up information to all the great guys who posted to this thread, I changed the coils, points and condensers and torqued down the flywheel to about 43 ft-lb. (Spec is 40 to 45) It started right up. I then de-coked with Seafoam, as suggested above, and ran it a bit more in the shop. I installed it on the boat and ran at varying speeds around the bay behind my home. It idles well and seems smooth at WOT; a little rough in the mid-range.
I didn't check the spark, set the timing, or check compression before assembly because I didn't have the right equipment. I'll save that for when my brother-in-law moves to the community, as he has the necessaries. I've gone fishing about six times now, putting close to ten hours on the motor. It will idle and troll without stumbling or stalling, so I'm happy.
And to think, the dealer said it wasn't worth fixing!
