Ross- I'm no mechanic, but- I had a similar situation a few years back. Now granted the fuel stands out but I've stabilized fuel in the past had have not had the same issue some had when dropping her in the lake after 5 months of storage when it coms to bad gas. Anyway, my issue was I had just left my boat with a local shop to convert to an electronic ignition. I was away in the service but upon return home on leave I put her in, ready to go. She ran like, what we call in Alabama, a pulp wood truck (pup wuud). Meaning, pulp would trucks are trucks with 500k miles and last tuneup at 60k. She slugged through the water occasionally spinning good and attempting plane, but then dropping back. Wide open throttle resulted in about 17-20kts with occasional backfire.
Diagnosis- bad conversion parts to electronic ignition (which you may have to check your distributer, cap, rotor and or similar parts if electrionic). After I got a new kit and installed it, she ran, and still does, great. Upon de-winterizing I usually have to pump the throttle couple of times to ger her fired, then it is a simple turn key and fire.