Re: 1974 evinrude 70 hp won't rev in the water ???
For a few years there OMC used a battery-driven CD ignition, but this one is magneto driven. If the stator's bad, you won't get spark on any cylinder.
QL78C is a cooler plug, probably the alternative for racing applications. Expect it to foul more easily and possibly contribute to carbon build up in the cylinders. I'd change 'em at your next opportunity but they're not a likely cause of your present symptoms.
The results of your compression and spark tests are good; I would be inclined to focus on fuel.
I just reread the thread and found something I missed before -- if you pulled core plugs out the carbs, but didn't have any carb kits on hand, what did you plug the holes with?
You also asked about timing:
Your timing at idle is 0? TDC. WOT timing is 19? BTDC, but *DON'T* set it with the motor running on the muffs. It has to be done with the engine fully loaded, like in a test tank with a test wheel. But Joe Reeves has a procedure for setting WOT timing at cranking speed, it's on this forum in the Top Secret Files. You won't find that in any manual.
If you see a foreign substance on top of the powerhead that might be melted epoxy thrown from the flywheel, it's possible that a magnet or two has shifted; that'll throw the timing off. Also if the flywheel key has sheared.
Check the timing pointer alignment first:
[note: Rotating the flywheel CCW turns the water pump impeller vanes backwards, so do it for this procedure only, and as little as possible.]
1. rotate the flywheel (clockwise) until the TDC mark is a approaching the TDC pointer, a few inches away. Insert a piston stop tool into the #1 hole and rotate the flywheel (CW) until it contacts the stop. With a pencil, mark the edge of the flywheel at the TDC pointer.
2. rotate the flywheel (CW) a few inches past TDC, insert the piston stop tool, and rotate the flywheel back (CCW) until it contacts the stop. Mark the edge of the flywheel again, at the TDC pointer. Now rotate the flywheel (CW) a bit, to relax the water pump impeller vanes.
3. draw a straight line between your two marks.
4. draw a straight line from the center of, and perpendicular to, the first line to the edge of the flywheel.
5. if your 2nd line hits the 0? TDC mark embossed on the flywheel, you're done.
..........otherwise,
6. rotate the flywheel (clockwise) until the 0? TDC mark aligns with the TDC pointer.
7. loosen the TDC pointer and slide it over to align with your 2nd line. That should be the correct position, but if you like, repeat from step 1 just to be sure.