Took the Challenger out twice this weekend and tried several variations of the Water Valve (from completely closed to 2 turns above point where red adjustor is flush with black valve body--in increments of 1/2 turn). This had NO EFFECT. I checked to make certain valve diaphram was good and moves easily, spring is undamaged, but the 3 washers are not present at the base. ALSO, noticed the brass insert to the purple muffler chamber IS BENT. My next path is to disassemble and get a straight brass insert, could this be binding even though diamphram moves smothly up and down?
Also, set water valve to flush with body plus 2 notches open, and tuned on Rave Valves. Got a little better performance with Raves open about 1/2 turn. Then wnet back to tuning water valve, again--NO EFFECT.
Still, from a dead stop, engine revs easily to 5000 RPM, then stays at this speed until the hull planes out, then after a completely variable delay (can be 5-60 sec.) the engine miraculously WINDS UP INSTANTLY to 7000 RPM and the boat takes off like a shot.
Question for the Experienced: Is there a 2nd Rev Limiter built into this MPEM at 5K? My Speedo Sensor is dead, if this MPEM thinks the boat is stopped in the water, will it prevent the spark from advancing the RPM? (to prevent cavitation of the jet pump).