Re: 1973 50hp mercury runs awful under load
Sounds to me like you're running on two cylinders (of four). More than likely it is a plugged carb, as one carb feeds two cylinders. Multi cylinder motors will "rev" just fine with no load and can fool you into thinking nothing is wrong, but in fact, under load, the problem becomes apparent.
What are your compression readings?
Check the plugs. Do the top or bottom two look different from the other two?
What happens if you place your hand or a rag over the mouth of one of the carbs while running?
I'm not real familiar with the ignition systems on those motors, but a spark check would also be in order.
- Scott