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It's going to cost you many thousands to get It working again.. I would charge him 500 just to remove it. Then if you have a yen to restore it at least you have a few bucks to get started.. IMO
It's been a decade or two since I played with these so , in the past you needed to find around 9 v at the coil to protect them from arching... sorry I meant the distributor..
You got the idea vent plate on engine needs to be damn close to the bottom of hull. Obviously we don't know what that is but your red sharpie markers will tell you...