Re: '72 merc 1150 timing clarification
Are you investigating timing to cure a performance issue, or just trying to review it to ensure its okay?
This is when I ask if you've confirmed your timing pointer and piston TDC agree with each other, verified?
I wouldn't be concerned with how much the spark is retarded with the throttle at the idle position. Its variable motor to motor, and changes based on where your idle stop is set to achieve the desired idle rpm. These things will start with the idle timing all over the place, and will run with only a few plugs firing but certainly won't run well at any significant speed that way.
I would aim for primary pickup (0-2?BTDC), and maximum timing (21?BTDC) , as that is what should give you the most reliable, safe performance. The motor needs to be slightly advanced before hitting the primary pickup for good throttle response, and at maximum advance just before the secondary throttle pickup kicks in, to yield a good hole shot.