Re: '66 40 hp skipping gear
There are two possibilities:
1: A slipping propeller hub. Easy to check, make a mark on the prop nut and another on the propeller, aligned with the first one. Run motor till suspected slippage occurs, then stop and look at the marks. If no longer aligned, it slipped. Easy to cure, replace prop.
2: You don't want to hear this one. Could be a slipping clutch. That could be anything from a bad shift switch in the control, to bad wires all the way from switch to lower unit, to worn parts in the lower unit. A logical troubleshooting procedure is called for, starting with voltage checks and gear oil check.