Re: OMC Ford 302... NO POWER
I saw on a previous post of yours thet this boat had been sitting for a few years. You will probably need to rebuild the carb, as well as going over all the systems top to bottom as Boomyal said starting with a compression test, fuel sytem, ignition, cooling, etc. All need to be checked for corrosion, deterioration of hoses/parts and proper settings. Sorry to say, but I don't think you're going to get away with anything less.
And for your trim issues, have a good look at a set of Smart Tabs. I'll be getting a set for my 18' Cal Glass w/OMC 175 shortly. Read nothing but good things about them and the owner/designer is a member of this board and is allways excellent with customer support.