1962 gale 40hp!!!!!!!! Paper weight???????

[munch]

I?m in need of help.
I have a 62 gale 40hp. It starts, runs good at low idle (I think). But when I have it on the lake and go to WOT
It goes half the speed and won?t even plain out the boat. I believe the carb is set correctly for both high and low. The motor bangs once every couple of sec. when driving. No increase in speed just a bang like the motor hit something or the other cylinder fired. I have spark on both cylinders because I could start the engine with either plug in.( I'm sure this is'nt good )Could this be a timing issue? Someone told me to check the pin under the flywheel. Not sure if they said timing pin or shear pin. I don?t think it?s the bottom end. because the motor dos'nt rev really high and then drop rpms. But the again I?m a newbie in desperate need of your help! I don?t have a manual yet! I know the first thing someone is going to tell me is to get one. "It's on it's way".
Thanks in advance.
P.S. is this motor even worth keeping?

 

[Dhadley]

Re: 1962 gale 40hp!!!!!!!! Paper weight???????

Start with the basics - compression first. How are the coils? Points?

 

[munch]

Re: 1962 gale 40hp!!!!!!!! Paper weight???????

compression is good so i have been told by someone else. coils and points not sure yet have taken off the fly wheel. the motor was running good for about 4 days and then lost power. I belive the points should be set at .20 is this right? I woud'nt know what to look for with the coils but if you look through the small hole on the top of the flywheel it's clean no rust no drit. I just got this boat. never had one before and have very little knowledge of motors.

 

[Dhadley]

Re: 1962 gale 40hp!!!!!!!! Paper weight???????

It'd probably be a good idea to take compression yourself so you know what your baseline is. The points should be set at .020, .20 would be a bit wide. If the coils look good - no cracks - they are probably OK but you'd need to test them to be sure. If you are going to replace the points & condensers (good idea) it would probably be a good idea to change the wires while you're there. Very simple, no big deal.

 

[tashasdaddy]

Re: 1962 gale 40hp!!!!!!!! Paper weight???????

if they look like these they are toast. if i have good compression, i usually just replace everything, under the flywheel, on a motor is have no history on.