Spark, fuel, compression and it won't run

[Vortex]

2003 model. Carbs were rebuilt last year along with new stator installed. 145/140 compression. Fuel in the lines, filter was replaced and is now full so it is moving gas. Has atp epix ignition, checked spark on both cyls and it looked strong.

The story is I lost power after a long ride and had to limp about a mile to get to shore. Would not start in water after that but it did fire up out of water. From then on I can only get it to run for about 1 second. Usually with my hand over the carbs.

I'm thinking it's bad reeds, or possibly a carb issue. Any honest input before I order parts is appreciated.

 

[Big Kahuna]

Pull flywheel and see if the Flywheel Key sheared. You would still get spark, it would be at the wrong time for it to run or crank.
Pull Flame Arrestor. See if the fuel mixture is getting blown upwards. If so, bad reeds. Honestly. I am thinking its the Key or the Ignition, They have had issues.

 

[Vortex]

I did not think of the flywheel key that's definitely possible. I was riding it flat out across the lake around the time it happened.

Fuel flow seemed OK didn't notice it anything there

 

[Vortex]

At this point, after asking several knowledgeable people I am pretty sure it is a bad crank bearing. The symptoms are all pointing at it.

 

[Grouper]

No sense in declaring the problem until you take it apart

 

[Vortex]

Just trying to diagnose before I pull the engine. Got a big bore to go in next.