JS550 won't run!

Location
Salem, OR
My family bought an '86 JS550 about 10 years ago. It was a great ski and didn't have any problems until last year. Basically started losing power until it wouldn't run. We did a compression test on it and it has 150psi in both cylinders. We pulled the intake off last year and rebuilt the carb and looked for reeds but I guess they don't have any?

My brother poured gas down the carb and got it to sputter but not fire worth beans. I thought maybe the flywheel key stripped out so we pulled it off and it was fine. In the process of that I damaged one of the coils because I put the harmonic balancer remover bolts in too far and now it won't spark. So I definitely need to replace the pulsing coil.

We also removed the fuel tank pickup from the "ON" and "RESERVE" side and I can blow through the lines into the carb meaning the fuel selector valve should work?

The spark looked ok but I'm no expert.

Anyone have any ideas what's going on or what we should check?

Thanks
 
Location
GA
Will the ski run normal for 5 mins or so then begin to lose power? If so it could be something to do with the ignition coil. Mine did the same thing, but it would run for 5 mins or so then start running on one cylinder after the coil heated up and began to fail. Have you checked the spark from the plugs by grounding them out while the engine is cold? Repeat the process after warming the engine in the water, and see if the spark stays constant and strong
 
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