Re: mid 70's 115 johnson
300 volts from the power pack to the coils is exactly what you should have. The coils will then boost that up to spark voltage (30,000 volts or so). So the question becomes, when are you not getting 300 volts to the coils from the power pack, from the the stator to the power pack, or is the power pack at times not being triggered by the sensor coils? Does it fail only after it runs for a while and then start to work again after a cooling off period? Need more information on when the problem occurs. Don't know your year motor, but mine has 2 power packs. One for each side of the engine. Are you losing spark on both sides or on only one? Could try swapping the packs if the latter and see if the problem follows the pack. As others have said, a good manual will help you troubleshoot this problem.
-- Jeff