Quick update . . .
The Evinrude is now on the dinghy as is working fine. Not as smooth a runner as the Mercury, but it runs and has decent power.
As for the Mercury . . . I started replacing wires . . . lots of brittle crumbly.
I dis-assembled the stator and tested the ignition module plate thingy (red module) according to the CDI literature. It tested out fine . . . replacements, if you can get 'em, are $100+
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The '-' wires leading to the coils were quite brittle and the insulation was cracked. So I suspect they were shorting out to the casing. I removed the maker points and the insulator blocks have some cracking. New ones are on order. The crumbling coil wires are $42+ each !!!

. . . . Not going to send upwards of $100 on a couple of wires. So, I'm going to use some marine wire that I have on-hand and salvage the fittings from the original wires.
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The green wires to the '+' side of the coils seem to be fine. Perhaps they were replaced along the way.
The maker points look OK. So, I'll be working on the ignition wires and waiting for delivery of the isolator blocks.