Re: Straight 6 Merc 115hp Revs Under Load Problem
Simon, the first thing that comes to mind is a failure of the stator. This would only be applicable if you have a later-model motor with ADI (Alternator-Driven Ignition). In other words, distributorless with (2) ignition modules and (6) ign coils on the Stbd side of the motor. It definitely would help to post year or at least Ser # of your motor.
Do a keyword search on 'stator' to find tons of previous posts on the failure of stator windings. I suspect the Hi-Speed windings in your stator are bad, this'll allow the motor to start & idle but will fall on its face when attempting to throttle-up in gear in the water.
The stator Hi and Low-speed windings are easily resistance-checked with a meter. If you don't have one, check your local Sears or Radio Shack. You should be able to find one good enough for these readings for as little as $9.95 on sale.
If you have a distributor model, I'd check for good spark on all cylinders. Drop the distributor cap down and inspect/clean.
Fuel-related problems can cause similar symptoms. Check/clean your fuel filter(s) if your motor has them. Remove the brass main jet plug at the bottom-front of one of your carbs and see if any water drains out. With all the ethanol in fuel nowadays, it's always possible to get a bad tank of gas with a ton of water in it.
If you find you have issues with the fuel, change tanks then flush fuel thru each carb (with its main jet plug removed) until the discharge runs clear.
Be sure to disconnect your battery before doing this, and have an appropriate container to catch the discharge.
Here' a few links which may help, in looking up parts for your motor and also troubleshooting the problem:
http://www.mercruiserparts.com/SelectModelType3.asp?class_id=2
http://www.boatpartstore.com/mercreadings.asp
http://outboardparts.com/mercury/troubleshooting/troubleshooting10.htm
http://dolphinmarineservice.homestead.com/ign5.html
HTH.............ed