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With the old mercs there is a problem with wire rot.
Can you check which cylinders are not firing. Faults with the ignition usually comes in pairs. With the Mercs the ignition system runs 1-2 and 3-4 as a pair.
Check your trigger module with close attention to the wiring.
Next in line is the switch module which controls the low/high voltage pulse to the coils and is triggered by, you guessed it, the trigger module.
I've recently rebuild a 1980 80hp Mercury and if you're keen to get it to go reliable, get yourself a manual. Well worth the investment.
Cheers,
Frits.