1986 Pro V150 wont go over 2800

"I just bought this guy off eB

"I just bought this guy off eBay and am filling like I got screwed. He stated that the engine was running fine but then out of the blue dropped power. He got it back to shore, took it home, and called the marina and they 'told' him it probably just needed new plugs.

When I looked at the boat he started it on the muffs for me. It ran good and would rap out to 6K on the high idle control. Once I got it home I changed the plugs and dropped it in the water. It would idle fine but would not push more then 2800rpms.

He did have the oil injection disconnected and was mixing 50:1 thru the tank. He did not have any by pass wiring done to the OI, just had it unplugged and emptied.

So far I have: replaced the plugs, rebuilt the carbs, drained out all of the old gas (it had a ton of water in it) and pulled the fuel pumps (there are two) and looked them over. I found a little rust but no holes.

I am putting it back together tomorrow and, not finding anything that looked real bad, am anticipating no improvement.

Where should I go from here?"

any word

any word

"I started it today and it ran

"I started it today and it ran fine, on the muffs, until we spotted a fuel leak. We took off that carb and fixed that issue.

While I had the carbs off we reinstalled the oil injection, but still started it on a can of 50:1 mix. It smoked like a house on fire so I took the can off and got a can of straight gas. When we restarted it – it ran like ka-ka. It had a hard time idling and sounds like it had an uneven miss throughout the RPM range. Now it seems like it burning enough oil for two engines. I mean it is starting on and leaving rather large clouds of smoke, and when it misses it’s tossing out blooms.

I took out the plugs and cleaned them off; they were very wet with un-burnt oil. I am now wondering if the OI is passing to much oil into the system?"

it could or the fuel pump is l

it could or the fuel pump is leaking

"When I tore the pumps a part

"When I tore the pumps a part we found some rust so i installed brand new (not rebuilds) ones, it has two, on it before we sttarted it. I am going to disconnect the OI on it tomorrow and give it another try."