I have a 1984 35hp Johnson. It quit running a couple weeks ago. It would start and run a few seconds using starter fluid so I rebuilt the carb, fuel pump, and replaced the lines. Took it to the lake and it ran great. The next time out, nothing. It may cough a bit at best. Starter fluid makes no difference. I have good spark on both plugs. The plugs looked good. Compression is great, 120 & 125 psi.
I'm thinking I may have lost a Reed valve as I was driving it onto the trailer. It does have much more gas/oil in the cowling than normal.
What else can I look for to troubleshoot this?