Re: Need advice 1972 mercury 135
The "1350" should be a "red-band" Inline Six, last made in '71. A very strong-running motor, if it looks clean, and isn't making any bad noises at idle, your cutting-out is likely either a carburetion/fuel issue or ignition (such as "trash-in-the-cap", bad wires/plugs).
Carb mixture adjustments and carb/timing synchronization can also cause dodgy performance and loss of hole-shot, but these adjustments aren't extremely difficult to make, with a few hand tools and a timing light.
The distributor trigger/housing assy for the CDI ignition is quite expensive, but if it's running, the trigger is working. Dist cap is over $100 but if not cracked or otherwise damaged, can be cleaned up & made serviceable again. Rotor is non-replaceable and rarely a problem. New plug wires are $$pendy but wire can be bought in bulk and the screw-in ends are still available.
Other parts such as carb gaskets, floats, needles/seats, & fuel pump kits are readily available and fairly reasonable.
Certainly worth going-thru if the motor otherwise is decent, and the price is right. But don't give a premium price for a motor with issues, it is after all 41+ years old and likely in need of an appreciative owner and tender-loving-care!
In the 80's I had a 1350 on 16' Sidewinder-SS and it was a real screamer! Burnt a lot of fuel but had tons of fun!
Let us know how it works out and maybe post a pic or two of the classic Tower of Power...........ed