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King Cobra dies after 30 sec

"I own a 1988 Stratus 2000XLS

"I own a 1988 Stratus 2000XLS with a King Cobra outdrive coupled to a 460 ford. The motor was rebuilt last year and ran without a hitch. It also ran well this spring. Last time out it ran for about 15 minutes, then died. It appeared to have a flat battery and the + battery lead was hot. I re-tightened and the motor fired and ran for about 1 minute than died again. It then would turn over and eventually started. Now it will spin freely and start but dies after about 30 seconds, will turn over normally but will not fire. after a period it fires again then dies after 30 sec. I am suspecting a bad coil since it will now turn over properly, any other thoughts."
 
"Should be easy enough to chec

"Should be easy enough to check for a spark, does this engine still have points? If so clean them and check to see if they are opening and closing."
 
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