Ok after fixing one problem after the other, there is what seems to be the final hurtle for this engine to run properly again. It's a 1972 125hp johnson electric shift. I dumped it in the lake and started it up and of course it did things that I've never seen it do before. I pulled the coweling with the engine running in the water and saw that water was spurting intermitantly from through the hole where the two shift wires go into the exhaust housing. Every time this engine would sneeze and cough the water would shoot into the engine area. It didn't get in or even on the engine it just squirted it out through that hole and the water settled and some drained out the opening for the steering. The engine would only drive about the speed of a 5hp trolling motor. Any thoughts on what kind of seal or what could have gone wrong? thanks.