DO NOT EVER open the engine up to a high rpm (anything over 1800rpm) in neutral as you will be invitiing a runaway engine whereas it will deisel on and on upwards into ever increasing rpms until connecting rods start flying out the sides of the crankcase OR the engine runs out of fuel, whichever comes first. On a runaway engine, closing the throtttle or turning the key off does absolutely nothing... the engine continues to run on!
Very possible that you have a bad head gasket... you need to remove the cylinder head to inspect the pistons, sealing surfaces, etc anyway.
With the spark plugs removed, you need to hook up a spark tester whereas you can set a 7/16" gap for the spark to jump. The spark should jump that 7/16" gap easily with a strong blue lightning like flame... a real SNAP!
Note that it is a total waste of time to check the spark by using the spark plugs! No tester?... Build the following:
(Spark Tester - Home Made)
(J. Reeves)
You can use a medium size philips screwdriver (#2 I believe) inserted into the spark plug boot spring connector, then hold the screwdriver shank approximately 7/16" away from the block to check the spark or build the following:
A spark tester can be made with a piece of 1x4 or 1x6, drive a few finishing nails through it, then bend the pointed ends at a right angle. You can then adjust the gap by simply twisting the nail(s). Solder a spark plug wire to one which you can connect to the spark plug boots, and a ground wire of some kind to the other to connect to the powerhead somewhere. Use small alligator clips on the other end of the wires to connect to ground and to the spark plug connector that exists inside of the rubber plug boot.
Using the above, one could easily build a spark tester whereas they could connect 2, 4, 6, or 8 cylinders all at one time. The ground nail being straight up, the others being bent, aimed at the ground nail. A typical 4 cylinder tester follows:
..........X1..........X2
.................X..(grd)
..........X3..........X4
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http://shop.ebay.com/Joe_OMC32/m.html?_dmd=1&_ipg=50&_sop=12&_rdc=1