These outboards are not tuned like you are tuning a Car from the 60s or 70s. There is no Spec for Idle Timing, as the Timing is what is adjusted to get the desired Idle Speed.
Melting a Piston, usually requires more than just Honing a Cylinder, and putting in a new Piston and Rings. What caused the Meltdown, lean Carb?
'75% of its power'.
Sounds like a dead/weak Cylinder.
As previously mentioned; Spark, leaky Crankcase. You have Carbs on the to-do list. Make sure to do a Link and Sync once it is back together