Not good. I pulled the boat down to the boat ramp this morning, turned on the Perko switch, same thing - just like turning the ignition key to the first position, without the key or ignition breaker button being pushed in. The ignition breaker button light even comes on, along with the fuel gauge, perfect pass, and depth finder. When I put the key in I can start it with the key without even having to push in the ignition breaker button, which isn't supposed to happen.
The boat started right up on the trailer, came right up to 160 degrees and held steady, no warning lights, idled fine at 700RPM. The only other thing that doesn't work as usual, when I turn on either the anchor light breaker button or the navigation light breaker button, it turns both of those lights on at the same time which didn't use to happen.
I let the engine idle for 5-10 minutes and could see some Corrosion Block smoking off the engine as it heated up and it eventually stopped smoking. Then I turned the key off and the engine kept running!!! DOH!! I freaked. I couldn't think of anything else to do (forgot the kill lanyard!) so I turned off the Perko switch which killed the engine. I know this is a big NO-NO and may have fried my alternator.
I think this problem is beyond my trouble-shooting abilities, especially because the starter relay on this CC v-drive is buried under a mountain of cables and brackets. I can't even see how I would get to the terminals with a wrench. So I guess I'll be towing her to SECC Monday morning unless anyone has any other ideas.