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I got a lot of replies to my post last month on my '61 Johnson 40 that wouldn't start hot. Thanks again for all the help but Dave Wheeler was right on the money. Turns out that a little leakage from the upper crank seal was contaminating the points with some gas/oil mix after some hard running. Running at high RPM wasn't a problem but if it was shut off the spark would be too weak at cranking speed to get going again unless it sat for awhile. (I've replaced the seal but can't stop the leak.) My fix was to get rid of the points and condensers and replace with ATOM ignition modules. Small solid state modules, one for each cylinder, easy to install. I tested the boat out this weekend. Starts right up hot or cold, idles lower and smoother than it ever has. Acceleration and full throttle are at least as good as with the point ignition. Problem solved. Just need to make up for the six weeks of boating I lost chasing this problem.
I got a tip about the ATOM modules from the AOMCI forums. They even had a post in their Tips section on how to make your own but I'm not that smart. I bought mine thru WWW.bantasaw.com about $25 each. They have several different ones for various applications. I used the 440-215 Red ones. They are way simple, smaller than a postage stamp and about 1/4" thick. Can be mounted anyplace (away from direct heat). I mounted mine on my starter bracket. They could be mounted where the points were if you can get them to fit and keep the wires away from spinning parts. If you mount them remote you should run a flexible ground wire from the ignition plate to the engine case to insure a good ground between the coils and the modules. They have only two wires, one to the wire that was attached to the points and the other goes to ground. Comes with good instructions. The module detects the buildup of coil primary current and breaks the circuit when current flow reaches it's peak. By magneto design this is the same instant that the points would open. As the ignition plate rotates with throttle opening the timing advances just as it did with the point ignition. Time will tell how this works out in the long run but right now my motor runs better than ever.