more 73 9.5 problems

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Finally took out a 73 9.5 I picked up last fall. I had ran it a few times in a barrel and it ran great. Got her out on the river and it ran great for about 5 minutes then cut out and wouldn't start. Got it home and found water in the lower cylinder. I suspect it is a exhaust manifold leak and not a head gasket. I had been getting exhaust in the cowling and initally suspected it was the rubber boot, but I guess it is the gasket instead.
Any idea if it normally is the inner gasket that fails or one of the outer ones as the diagrams show there are 3 gaskets on the 9.5 exhaust system?

 

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Ok, found the problem, had to swap out the power head, fortunatly I had one I got off e-bay. The question I now have is can I use ultra black in stead of a exhaust gasket?

 

[Boobie]

No. Get the proper gasket. That way you'll know it's right.