Soot/Fouled Plug Is head gasket toast

[night-watch]

First off I own a 1978 B100 honda four stroke. Took it out a couple weeks ago and noticed it was pretty hot following the salmon trolling. I have been cruising the internet investigating my new/old kicker engine. I tore it apart last weekend and found the thermostat, replaced the gaskets, replaced thermostat, cleaned the carbs, changed the oil. It appears fine and after running it for a little while it still feels relatively hot to the touch. There is also a little water exiting the two exaust holes on the lower cowling but no water in the crankcase oil. It seems to burn oil and has carbon fouled plugs. Any guesses?
Oh yeah it sat for ten years but fired right up.
My thoughts without compression testing
1. Head gasket
2. Rings
3. Idle too slow and its not burning everything else off.

I am learning you guys are the experts. It still runs good just not perfect. Thanks in advance.

 

[Tig]

Re: Soot/Fouled Plug Is head gasket toast

I'm wondering what shape the impeller is in. Not that that would cause the carbon, but poor flow would cause the heat you describe. Impellers are rubber and they can dry up and break.
Burning oil sounds like the rings as you mentioned, although the heat issue may contribute to this by thinning the oil. Sitting for 10 years may have seen a bit of rust form in the cylinders. If so, it's kind of like breaking in the engine again. The rings should seat themselves and the oil consumption would then go down. Stuck ring is also a possibility. A lot of people swear by seafoam for reviving an engine. I've never tried it.
I'm not familiar with your specific engine but if there is no water in the oil and there is excessive carbon in the cylinder I am quite confident that this isn't a big deal. A leaky head gasket will usually clean all the carbon out of the cylinder by steaming it.
Carbon, well that sounds like it's too rich. After a break in period you may want to check the low speed adjustment. Also does it have the recommended spark plug installed?
Those are just my thoughts. Myself, I wouldn't be in any hurry to dig any deeper as long as it runs well.

 

[night-watch]

Re: Soot/Fouled Plug Is head gasket toast

Thanks Tig. Yes on the plugs, they are brand new, seafoamed the heck out of it. Yesterday in the barrel I did notice that their was possibly a leak in the exhaust on the lower cowling under the head but it isn't producing much soot in the lower. I am probably over analyzing this whole thing. It pees okay. Either way the impeller will need a turn over and I have a bunch of other o rings and seals for the lower unit that will be done in the next couple of weeks. Its salmon season. Two/three more weeks and repair time. Any more advice would be appreciated.

 

[hondon]

Re: Soot/Fouled Plug Is head gasket toast

Soo ,what are those compression numbers ?Are those valves properly adjusted?What kind of ancient or contaminated fuel are expecting this engine to consume?Start with the basics.