All, thanks for the troubleshooting help with this. I confirmed the fuel pressure was ~9psi and ordered a regulator. It is arriving today, and I'll get it swapped on tonight.
In other news... one comment and two observations after running this weekend...
* I put in some seafoam carb cleaner...
This morning I completed the following:
* checked anti-siphon -> it appears clean
* checked inlet to carburetor -> it appears to be clean
* installed a fuel pressure gauge -> fuel pressure is ~8-9psig through RPM range
* hooked up a vacuum gauge to the manifold ->vacuum is ~17-18 inHG
All, I am having an issue with the Mercruiser 5.7 in my 1993 Regal 233 with the alpha 1 gen 2 sterndrive. I picked up the boat end of last season and didn't get much run time on it, but I had some issues with hard starts, low power, stumbling, and stalling. I checked the timing (8deg BTDC)...