Mercury 7.5 Lighting Comet serial number 6506229

[blackoak]

I bought this motor at a local auction. the serial number is 6506229. The engine cover has what looks like white, gray and red pin stripes. I was wonder what year it was made? I cleaned it up and noticed the throttle lever was broke. I ordered one here. I'm not sure what position it should be on the butterfly shaft when I put the new one on. I cleaned the carb, and it was not too bad. The motor looks to have not been running in many years. Is there anything I should do to get it back in running condition. I have not worked on to many outboards, but have been repairing chainsaws for 30 years. I checked the compression and both top and bottom cylinders shows 110psi of compression. Is this normal for this motor. It has good spark and would fire if I shot some mixed gas in the carb. I don't have a tank for it but will be getting one soon. Any info is appreciated

 

[racerone]

Needs a new water pump impeller.----It says 1984 , but decals do not match the model year.