Johnson 115 not running right...help needed

I've got a 1998 Johnson 115 on a 18.5 pro master cc. The boat weighs just a bit over 1000lbs and the motor's got whatever size and pitch prop the owners manual told me to get (I'll check on that and put it up in a bit). The precise model # is J115TSLECM, serial #: G04450541, made in illinois in 12/1997. Pretty sure, but don't really know, it's not a VRO (I've never seen an oil tank, and the pump looks different than the ones I've seen online: little 5 sided dude)

Now that the specs are out of the way, I got the boat and motor about 3 years ago, and since I've had it it has had this same problem, but now it is getting worse. When I first got it it lacked the power I thought it should have. Turned out it had a bad spark plug wire so I replaced them all and the plugs. Since I've had it it has always been slow to start. It takes about 1-2 minutes for it to turn over, and then it usually just dies out a couple times before really getting going. Once it has run for a bit it will start right back up, as long as I don't sit so long that it cools off. It fouls the spark plugs something awful. Bad enough so that after every day on the lake I take them out and clean the gunk off them to make sure I don't have to do it on the water, which I've done twice, and risk dropping one in the drink, which luckily hasn't happend yet. Beyond the slow starting, sometimes it would get sluggish at cruising speed, but now it does it all the time. When I give it WOT is will get going, then the rpms will drop somewhat and I do about 30 mph when I used to do 37. When pumping the bulb to prime it, it gets somewhat firm, but not as firm as the bulb on other engines I've used. The next thing I plan on doing is a compression check as soon as my wife will let me go get the tool for it http://www.bassboatcentral.com/smileys/ohwell.gif . My ideas on it right now are the fuel pump and possibly the need to clean out the carbs, but I really don't know because this is the first boat I've ever owned. I took the line off the fuel pump to check the filter on it, and it looks fine. Anybody experienced this similar type of problem set and maybe know what I'm up against? I am on a very very limited budget, so if it needs anything more than a carb rebuild I would probably have to let it sit till I get a better job or hit the lotto.

Thanks in advance guys,
james

I get down to montgomery every now and then and could let ya borrow a compression tester.. How far off 65 are ya?

Thanks for the offer, but I think I'll go ahead and get one this weekend. I know that as soon as I get the motor right, something else will pop up and I may need it again.

Anyone have any suggestions on the best place to order parts for my engine? The Westmarine down the street and they don't have the carb kit or the fuel pump.

You can call the Parts Chic at C&O and they will take care of you. 888/868/0361

OK, a little more info. I did the compression check. Had to do it cold, as I had no time to get to the lake and no hose at my apt. And the results are (drumroll)...
Cyl 1 - 115
Cyl 2 - 110
Cyl 3 - 115
Cyl 4 - 65 AW CRAP!!!

Knowing that, anyone got any ideas what I'll have to do/spend to fix it?

About $1,500-2,000.

gross

is that my only option, or might there be a chance for a quick cheap fix: de-carb and the like?