Re: timing
Not sure about the model number but whether it has points or electronic distributor, the timing is set at 32 deg. before top dead center at wide open throttle. With these distributor engines, you do not need a timing light and they can be set in the driveway without the engine running (static timing).
Points on any four cylinder model should be set to .010 gap before you try to set timing. Electronic distributor needs no adjustment. Electric eye and shutter are set at factory and can not be changed.
You set the throttle to wide open, and remove all spark plugs and ground the #1 cylinder plug, or connect the wire to a plug tester. Now, with the ignition on, slowly move the flywheel by hand until the timing mark on the flywheel (the one to the left of the one marked 0) is just before the mark on the block. Now, very slowly continue until you get a spark. Rock the flywheel back and forth while adjusting the link on the tower until the timing is at the proper mark. The plate on the block above the carbs usually has several lines on either side of a longer line or a notch. The long line is 36 deg. before TDC so you want spark to occur 4 lines to the left of this long line. Once you have the spark at the proper time, press on the side of distributor belt. it will slightly rotate the distributor and the spark should occur each time. Timing will not change when operating on the water so static timing to 32 deg is acceptable for these engines. If you feel the quality of gasoline has deteriorated in recent years, you can do as the factory later recommended and set the timing to 30 deg.
The distributor belt should be set so that it deflects about 1/8 to 3/16 inch when pressed with an .010 feeler gauge without the gauge bending. Too loose, the belt will flop while running and the timing won't be accurate. Too tight and the distributor will bind up the linkage and cables making it difficult to shift into and out of gear. One of the screws holding the distributor to the block is in a slot for adjustment. Also, be careful. Some of these distributors will **** slightly when the mounting screws are fully tightened, changing the belt tension. If that happens on your engine, make allowance for it.
I recommend you get a Clymers manual and assume everything is set improperly. Set everything back to factory specifications and if it still doesn't run well, then start to troubleshoot. Clymers also has a full chapter on troubleshooting.