"Skip,
You are correct that V
"Skip,
You are correct that VRO did not appear until 1984. Your motor originally was and always will be a pre-mix monster.
Here are a few suggestions that may help:
1) Check engine compression. It may be a case where you have worn rings that are allowing excessive blowby until the engine warms up.
2) You may also have sticking rings due to carbon buildup. In this case, you need to de-carbonize the engine. Get a can of Deep Creep (Seafoam in a spray can) or Bombardier Engine Tuner. Take the boat to the lake and make a 5 or 10 minute run to get up to full operating temperature. Pull the boat on the trailer but leave the engine in the water. Run the engine around 1,000 to 1,200 RPM while spraying the can(s) of decarb solution into the carburetors spending about 5 seconds on each carb throat. Spray this stuff until the entire can is gone, or the engine dies. If you choose, you can also remove your spark plugs and spray some in the cylinders for good measure. I have read that some guys will turn the flywheel by hand after spraying in the cylinders (with the plugs out obviously) to get as much penetration on the rings as possible.
Pull the boat out of the water and let the engine set for a good long while. Overnight is even okay. When you start the engine again it is going to smoke like a pile of wet leaves, which is okay because you're burning off the dissolved carb deposits.
Then, every few tanks, you should add a can of Seafoam to your fuel to help keep carbon deposits from building up.
3) Run a high quality oil. This year I ran mostly Evinrude XD50 oil in my '79 Evinrude 140 and there was significantly less smoke that when I ran XD25 or even Penzzoil 100% synthetic. I have also ran Amsoil HP Injector oil and that produces slightly less smoke than the XD50.
4) Use a graduated mixing bottle. Getting too rich on your oil will easily cause excessive smoke. I bought a Seasense mixing bottle from walmart like this one:
http://ec1.images-amazon.com/images/P/B000FZ1ZWW.01._SS500_SCLZZZZZZZ_V66516250_ .jpg"
I just estimate from my fuel guage how much gas I'm going to put in, then using the bottle I measure the appropriate amount of oil, pour that in the tank, and then fill the fuel. The nice thing about this method is it takes a lot of guess work out of adding oil and makes sure you have the exact amount of oil needed.
5) Check your carbs. You may possibly have a bad needle valve that's allowing excess fuel to flow in the engine.
KJ"