Re: 1967 100 hp Johnson
What you heard about use of starting fluid is correct - it isn't a good idea, because it has no lubricating qualities. The internal parts of a two-stroke engine need to be lubed by the fuel/oil mixture, so use some premix in a spray bottle instead.
Sending the motor to the dealer to have everything fixed is going to be expensive. Most dealers are getting about $70 - $90 per hour for shop rates these days. That fact, combined with parts cost, could push the repairs to a pretty high level quickly.
I think what I would do with this motor is to check its general health before I spent any money on it. Do a compression check and check the gearcase for signs of metal and/or water. Ask your dad if the motor ever showed any signs of "kicking" out of gear, which could be a sign of impending clutch dog failure. Look over the motor for signs of other potential mechanical problems - are there any items that are obviously broken, etc.
If these things seem ok, you then have to make a decision as to whether going through everything else is worth it. If spraying fuel in the carbs helps get the motor going, the motor may need a fuel pump repacement and/or carb rebuild. Replacing all the wiring and possibly having to replace other components in the ignition and charge systems could get expensive too. You must also consider the issue of parts availibility for this motor. While many people, myself included, manage to keep older motors going, finding parts for them is sometimes challenging and expensive.
Another aspect of this motor is fuel consumption. The older OMC motors have the crossflow piston/cylinder design, which is not as efficient as the later loop charged design. Most people who have operated the older V4s say that they are terrible on fuel - obviously something that is a major consideration these days.
Frankly, if it were me, I would sell the motor and look for something newer. There are lots of deals to be had right now on used motors, because of fuel costs. My local OMC/BRP dealer is teliing me that he is repowering a lot of boats with ETEC engines because of those prices. This means that there are also lots of used motors being taken in trade or sold privately. For example, this same dealer now has a 2001 Johnson 70hp, which he took in trade, and is selling for $2,000. Just as a comparison, I have a 1972 Johnson 65hp engine that I purchased on Ebay and then refurbished, half with dealer work, and half by my own labor, which I have about $2,000 invested in. While I really like my motor and it is now a solid "runner," I think this example well illustrates the economics of fixing up old motors.
BTW - if your motor is a Johnson, it would be the Golden Meteor. The Starflight is merely the Evinrude version of the same motor. With the exception of the cowl pieces and paint scheme, the motors are identical or nearly so.
