Replace the water jacket gasket.----There is no cylinder head on that motor.-----What is your starting procedure?-----What are the actual compression values?----Have you installed a new water pump impeller ?---
When teenagers pay $10 for cigarettes they have really spent $20.-----The $10 should be in a bank account for a downpayment on a car or house ---They now need to borrow that $10 and we all know what that costs over 20 years.
Install the trim / tilt ( 2 wire motor ) of the 82 on the 78.----Install the 82 electrical bits on the 78 as well.-----Trim and tilt switch on the 78 control can stay.
The magneto on that motor was first installed in 1950.----Installed for the next 40 years on motors from 1.5 to 40 HP.---An elegantly simple / easy to maintain unit.----That is an opinion shared by many people.