I have a 1976 Mercury 1500. It will run totally fine when its not under load and I get very high rpm. As soon as it goes into the water though, it will only go about 2-3 MPH and if I give it more throttle, then it will just die. I have rebuilt the carbs and fuel pump. I have changed spark plugs and wires. I have checked the compression. I think it might be the distributor now. I have a pointless distributor, but I don't know what that means.
Please make any suggestions of what you think the problem is. Also please tell me about how much I would be looking at for repair costs. Thanks!
Please make any suggestions of what you think the problem is. Also please tell me about how much I would be looking at for repair costs. Thanks!