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I have a 1989 4.3 with the Thunderbolt IV. Starts and idles great but has no power. I've replaced the water separator, cleaned the carburetor, replaced the plugs and double checked firing order is correct. Checked timing and at idle in gear, about 650 rpm the timing is at 10 degrees BTDC. I know...
Put the boat in the water today. Motor ran great for about 3 minutes. Running at wot and the motor died like it ran out of fuel. Would only restart using the choke. I was able to keep it running by choking occasionally and running at about 3k rpm. Continued to do that to get back to the dock...