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I dont think you have said exactly what model you have but if it has the water cooled rectifier/regulatorStill had good compression. I know it's getting spark bc the timing light shoots fine. Don't have a spark gap checker. I'll have to make one at work this week. I'm pretty sure rectifier is shot. It's got some dark brown/black material (insulation?) Leaking out the back when I took it off the motor, and it gets hot really quick when running the motor. Gonna replace it, would that cause the voltage to build?
I believe 20" models have the round rectifier while the 25" models have a water cooled rectifier regulator and a higher output stator coil..... dont ask, but that's the info I glean from the parts list .. . Its for details like this that you are advised to always quote the model number.Thanks vics. It's a 1996 evinrude 112spl. And I do have the round rectifier which I believe is just the unregulated rectifier if I understand it correctly.