would agree where does the still connected end go...
being a pair like that my guess would be trim limit or sender. Sender ends up in the engine harness to get up to the gauge
compare spark gap test before and after setting with dwell meter. Dwell is what determines the amount of time the coil builds up spark energy prior to firing.
this is a great video explaining how points work and a fantastic example of what a good spark looks like. The money shot is at 5:07...
To the above would also take a look at the ignition components cap rotor wires and what do the plugs look like?
I would also be leaning towards a carb cleaning - very similar symptoms to my neighbors 4.3 some times fine sometimes stumble- rebuilt the carb and good to go
Not sure which style yours has but you can disconnect the wires to it and see if you have spark . It grounds the coil to momentarily kill the spark so the dog clutch in outdrive can unload and pop out of gear
good to rule out the switch isn’t killing it
Would think how close the bulkhead/ Engine compartment is to the front of the crank would dictate this. If belt driven it would be behind the plane of balancer pulley
Take the hose off the thermostat housing that brings water up from the outdrive. Should get 3-4 gpm. If not it’s from there back to outdrive. Also make sure the muffs are not impeding the water flow to the drive.
