I bought this boat for under 3000 bucks a year ago. 

Previous owner had boat 2 years, said it ran well the first year and second year started to have issues. 

He had carb rebuilt Edelbrock, he drained fuel tank and then sold it to some sucker... me.

the engine has a mallory Unilite (electronic?)distributor and what looks like a stock coil.

i have attempted to rebuild carb and replaced gaskets under carb.

I paid some hack to diagnose issue, he basically took my money and changed out plugs, but it ran smoother.

He said he increased gap on plugs because of Electronic ignition. 

i tested compression engine cold, starboard side 1-4 compression was 115-125, port side 5-8 was tested out 120-130. 

I have pulled the fuel line at carb and turned engine over and had fuel pumping out. 

i have checked plug wires and did an ohm test on the wires, they are 8mm and the resitance tested 4k ohms per foot of distributor wire. 

Cap and rotor look good

timing is set at 10 BTC and it advances to slightly over 30 degrees at over 2000 RPMS. 

Engine starts pretty well cold, it runs pretty well in neutral in my driveway. 

Under load there is a lot of valvetrain noise and motor seems to be down on power. 

if i turn off engine on the lake after pulling someone and immediately try to start the engine it fires up quickly. if i stop engine and let it sit for awhile it has a harder time starting. 

Engine is noticeably louder under load and down on power and has a hot starting issue. 

what else should i try.