1992 88 spl water in Cylinder plus more

[jevery_osu]

Well, here we go. I have a 1992 88 spl that is having some issues. First of all on Thursday we were out, have a 24 foot pontoon boat, and ran about 5500 rpm. Ran to the Beach fine, swam for a while and had the motor in the propped up position. after pulling the boat out and lowering the motor. It ran ok but took a while to get to full RPM. The rest of the day same problem. I thought maybe fouled plugs. I got home pulled plugs and 3 looked ok but the lower left ( from the Back or motor) had a few drops of water on it and when I looked at the clyinder it had a few drops on it also. I spoke with 2 mechanics and they said maybe bad gas. the previous month I had replaced 3 of the coils, dealer only had 3. of course the one I didn't replace is the same cyliner wit the water in it. I decided to change the coil on that cylinder, all plug wires and the plugs. After that Firday night I took it out ok, but not right. It would come up to 5300 rpm but slowly and hesitated at 4500 and then it would get to 5000 and another minute it would get to 5300. I was also thinking maybe bad gas. Saturday we took boat out and came out of marina, through no wake and into the open zone. after maybe 8 min. of WOT again running poorly it died. I pulled the hood and it was smoking. Got a tow to the beach. let it cool for a minute and then started looking closer. the new coil was melted at the base, that was the smoke. the motor would turn over but not start. Stayed at the beach and ran jet ski. after several hours got a tow back to marina. I decided to try to see if it would start, I finally got it to start but turned it off immediatly, not banging or knocks. I am wondering if head gasket, head, cracked block, bad piston. the mecahncs I spoke with last week, felt that if it was a big issue the motor would not get to 5300rpm. Any ideas would be great, Jerry