GOOD NEWS. . . . The PICTURE UPLOAD FUNCTION IS WORKING !!! The tech folks at the parent company have been able to remedy the issue. You can upload pictures once again. Thank you for your patience.
The two "tits" go vertically, one up and one down, not to the sides like you have them one I don't see the snap ring--is it in there? Goes between the tits washer and ball bearing,
I guess you already figured out somebody has put a Johnson powerhead on that Evinrude.
Aside from that, don't dare think you will make any money restoring it. Do it as a project of love if you want.
Not sure of the numbers, but if it comes in a can with a brush in the cap, that's the stuff. It works well, but I just don't like it because it is nasty, messy, black stuff to work with. But since OMC is no longer available, what'cha gonna do.
In the first place, the water pump doesn't actually "pump" while running on a hose, it only allows hose water to get through if running. Suggest you run it in a suitable tank of water to see if it actually needs fixing.
For the most part, the ammeter went away with the DC Generators. Of course, there exceptions. (The early high output alternators would be some, such as your Starflite)
Is your heart really set on an ammeter? The motor wasn't really wired for one. OMC avoided running the charge current all the way forward and back, which would require heavier wire gauge. May I suggest a voltmeter instead of an ammeter? Voltmeter hookup is simple. Connect one side to the...
I'd say something is improperly wired, somewhere, or wires shorted together somewhere. I have no idea where or how. But I will say that there normally would be no connection between the sensor and battery (or battery charger).
Book sez 376992 fits FD-11
377262 fits FD-12 thru FD-14
378278 fits FD-15 thru FD-18
All are replaced by 385338. I believe the main differences are the rings, the latest having the tapered pressure-back rings.
15-18 are similar, but different. There are some seals in the lower unit that are different, especially the prop shaft seal. Caution: It is entirely possible that somebody has changed the prop shaft bearing head and seal assy to the 18hp type, which would mean that it now takes the 18hp...
Even at 16 years old, you (and dad) have a lot more experience with restorations than the rest of us. Certainly, you don't need our advice as to what you are getting into with this one. It does sound like you have your impulses under control. But don't hesitate to ask.