What was the condition of the prop shaft that was covered by the prop when you pulled the prop?

If you do get serious and run it that old style long ear prop has to go, but worth a use just to get operational. Many props available for an update for that 1:1 gear case

What is the condition of the crank shaft point contact cam surface?

Any pitting on those points contact surfaces? If none may just need to be properly cleaned, I do it as needed on my Yamato Y80 point ignition. Any looseness on the point lateral rocking about its post pivot support? Check point contact alignment by looking at the surface wear pattern, if not square needs to be adjusted to clean properly.

Since those coils look cooked before pulling the flywheel did you check for good spark?

Not sure about replacement coils or condensers availability, some places to search:

https://johnsoldmercurysite.com/phpBB3/index.php

There is a $15/year fee to get to parts, tech, white papers and other. General and some other areas are free to view but to not comment or ask questions

Parts may be available from:

http://www.aeroliner-boats.com/index.html

Also maybe:

Frank Erion

269-730-1337
email - fderion@msn.com

Also maybe:

Possible John Mcintosh:

http://www.johnsmcintoshvintagemercu...om//About.html

Maybe Old Mercs:

https://www.oldmercs.com/Default.asp

Maybe Outboard paradise:

https://stores.outboardparadise.com/

There are others.

NLA parts difficult to get since as they age they transform to Unobtanium ;-)

Good hunting
Pete