After having to replace a balance shaft assembly (long story), In a 1995 Mercrusier 4.3 V6, I had noticed first day out on the water a loss of h.p. and rpm. The maxium rpm I could get was 4200. The mechanic came out and fixed the timing and all was good for the moment. The next outing I noticed that at full throttle and about 5000 rpms the engine would start loosing power and the rpm's gradually were going down and a slight clicking sound coming from engine compartment. I pulled back the throttle and the sound went away but when I leaned over the engine lid to look at the outdrive I found smoke rolling out from the bell/gimbal housing. I looked inside the engine compartment and there was no smoke. I started to experiment to try and diagnoise what it might be. I hit the throttle again and things were good until 30 secs and the same thing happened. This time I just let it go to see what would happen and when it got down to 3200 rpms it leveled out and stopped dropping. I also noticed that the engine temp would spike to a good 200 but when I pull back to neutral the temp goes back to normal. I can run her between 4200 and 4400 rpm without and of these problems except I still get the smoke back there. Any ideas would be appreciated.
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