I found a spec sheet saying that the stock size jets were supposed to be 65's and there were 64's in it and there was a 6.5 power valve when the spec sheet called for a 2.5.

 When warmed up it'll only run with the choke off, if idled up quite a bit.

 When he bought it the PO tried to add a pertronix set up but forgot to install the sending unit that replaces that cam piece that actuates the points. So we switched it back to the original points set up. And timing was done by ear (turned distributor to the highest idle point)
 
 How would I check to make sure its not running on water exactly? I'll try plugging the pcv too.

  I need to find me a good bucket. We have just been sticking hose in the pick up line and turning the water on as much as it seemed to be needed.

OK got some time to work on the boat today, still nothing.  Checked for leaks, covered the PVC hole, played with the air fuel screws, tried the timing, nothing really helped much. So tomorrow I'm going to take the carb back apart and go through it with a fine tooth comb. Is there a difference between auto and marine gaskets because I've seen two different metering block gaskets?

If this is an inboard direct drive, the carburetor is installed at a horrendous angle unless it has the angled base section under the carb..

I would be willing to bet that the float levels are not even close. Do you have a way to post a picture or two?

The vacuum leak required to keep the boat from running, even like crap, would have to be enormous. Like the hold down studs being too long and the wrong base gasket being used....

You need to be sure the right bowl and block gaskets are being used. And no, there is virtually no difference in automotive metering blocks versus marine. Marine carburetors have a different throttle plate and typically have u-tubes on the bowl vents....Sometimes they will have an off road float setup that has spring loaded floats (not always).

Good luck.

GT