Re: Lost power
You can eliminate several problems with one quick test. Turn on the ignition key, put the throttle in fast-idle/warm-up position, have someone hold the key in for choke, and use a good stout piece of rope with a handle to pull start it. If it starts, and runs, then the ignition is good and there are no mechanical problems.
If it does not start (may take a few tries) then check for spark and check for fuel. Now mind you, this engine is not a lawn mower. It will take some force to pull it by hand (two hands) and you may need to brace your foot on the engine splash well or transom.
If it is difficult to pull over by hand with the spark plugs removed, the problem is not the starter motor. Drop the lower unit and try again. if it is now free, the lower unit is the problem. If it is still difficult to turn, at this point, you would pull the head and check condition of cylinders.