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Need knowledge on early 70s 115 hp Merc

I realize I may have posted th

I realize I may have posted this in the wrong area yesterday. I apologize.
I found the serial # on this mystery motor. It's 2480805. It says 1100 with 2 lightening bolts. Does that mean its the 1100ss model? It also is a short shaft. I have redone all the wiring in the motor. What other componants should be replaced? I also checked the lower unit oil and it looked OK. I was told that all cylinders had 125 comp. except one which had alot less. Would that be rings or a leaking/blown head gasket?
What else can you tell me about these motors? I appreciate all the info. MIKE
 
There is no cylinder head and

There is no cylinder head and therefor it can not be a blown head gasket.
 
That serial makes it a 1968 mo

That serial makes it a 1968 model 1100 (110 horse) - and a low cylinder would most likely be rings or piston or scored/damaged cylinder or a combination of any.
 
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