Scooper thanks for the input. Actually you described my issue almost to a tee. However in addition to loosing power immediately jumping a wave it also would not get above 5000 RPM. It acted like a cylinder was dropping out or I was hitting a rev limiter. I definitely intend to clean out the valve during this effort.
I tore down my mag carb and the filter was horrible. The rest of the carb was pretty clean with no indication of goo from the lines. I was able to disassemble the carb carefully and thoroughly clean everything and reassemble without a rebuild kit. All of the gaskets and o-rings were in very good shape. Used a little silicon grease on the o-rings during assembly.
A couple of notes:
The fuel lines at all ends were oozing green goo. This goo seems to act like a lubricant and the fuel lines all just pulled off their respective connectors with little effort. Most without removing the clamp. For instance when I was trying to extract the fuel baffle, 3 of the 4 hoses came off. I was NOT pulling on them intentionally but the top of my hand must have been close enough to grab them. This is scary!!!!!! So for no other reason I highly recommend fuel line replacement to minimize the possibility of fuel leaks.
My fuel baffle had two issues. The fuse on the circuit board was open as I anticipated. The resistance reading was infinite and this is a pretty good indication either the wires/connections were bad or the fuse was bad. Thanks to RX571 and his very detailed fix for this.
http://www.seadooforum.com/showthread.php?t=5826
I replaced the fuse and it now reads 84.4ohms without the float and reads correctly as I insert the float and tip it up. My float had some amount of fuel in it but I was not able to locate the leak. I suspect it was the mold's plastic seal on the end that was just seeping ever so slowly. I drilled a small hole and inserted a air inflation needle used for sport balls and charged the float to 30lbs of pressure. I submerged this in water and no bubbles. Anyhow I sealed it with JB Weld. Both my hole and the mold hole/seal. I will install the float with this side up.
Cleaning the filter proved to be quite a task. Ultimately the use of GoJo cream hand cleaner, a qtip inserted carefully inside, a soft bristle tooth brush, and 5000 strokes later it is clean again. I tried soaking it in a degreaser over night and that helped but to get the last bit clean it took the above effort.
One question I have that I may need to post elsewhere. My HSA on this carb
appeared to be at zero. But it has been on the ski for 12 years now and was a bit contaminated with crud (on the outside). I have an inkling to back it off maybe 1/16th of a turn to be sure I do NOT run this to lean. Thoughts?
I will continue to post this adventure if nobody objects.