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88 mercury classic 50

My classic 50 has a real hard time getting above 12 mph with MULTIPLE people in the boat. By myself it will get up on plane and top speed is like 24 mph. It takes a little bit to plane off even with just me in the boat. It's a 17 foot alumaweld. Not very heavy. Any ideas/thoughts?
 
Post compression test actual values.-----Does spark jump a gap of 3/8" on each lead ?-----Inspect exhaust tuner for blockage ( carbon ) with lower unit off.----Do you install a new impeller every 5 years?
 
Post compression test actual values.-----Does spark jump a gap of 3/8" on each lead ?-----Inspect exhaust tuner for blockage ( carbon ) with lower unit off.----Do you install a new impeller every 5 years?
I will perform the tests you suggested and report back. Thank you. The last time the impeller was replaced was probably 3 or 4 years ago. I got a good stream of water out the tell tale and no overheat issues. It was replaced by a marine mechanic. I've taken the boat to this mechanic at least 5 times for the lack of power issue. He usually cleans the carbs and tests it in a tank and says it's good. But when on the water it falls on its face. I will do the suggested tests and report back. Thank you @racerone
 
Did one of these a few years ago.-----Shop had replaced most of the electronic parts.-----Simple inspection by me revealed plugged exhaust !!----Could be lower crankshaft seal as well.-----So easy to test and determine what the issue is with these motors.
 
Did one of these a few years ago.-----Shop had replaced most of the electronic parts.-----Simple inspection by me revealed plugged exhaust !!----Could be lower crankshaft seal as well.-----So easy to test and determine what the issue is with these motors.
I'm waiting on a spark tester kit and compression tester. In the meantime, I replaced the fuel filter with one I had on hand and then headed to the lake. It ran like **** UNTIL I took the cowling off. Then it ran great. Does this sound like a plugged up exhaust or an exhaust leak or either one? What should my next step be? Pull the lower unit and check exhaust is not plugged? If not, then pull the powerhead and check base gasket? I will do the spark and compression test next week but I think those tests will come back good considering it ran like a scalded dog when the cowling is off.
 
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