Help...I made a stupid mistake!

I have a 17' bowrider with 3.0 Mercruiser. I had my boat in the shop to replace a shift cable recently and when I took it out for a test run, I forgot to put the plug in. I tried to plane off and the bow went straight in the air and wouldn't plane and when it came down it sputtered and choked out. By the time I realized what had happened, water was 3/4 the way up the oil pan, just below the bottom of the starter. I had to get a tow back to the ramp and put the motor on the trailer to drain the water out.

I pulled the plugs, sprayed WD40 in the cylinders, cranked it over and repeated several times. The starter will turn the engine over but it acts as if I am not getting spark. I know I am getting power to the coil. I have yet to give a spark test. The carbs are getting fuel but the motor won't even fire with a shot of starter fluid in the carb. The oil on the dipstick looks good after the crank has turned several times so I don;t think I have water in the crankcase.

What are things I need to look for? Change plugs, spark test, water in the fuel pump? Would the starter have enough torque to turn the engine over if it had water in the cylinders? I hope I haven't ruined the engine.

(Message edited by uncc_grad on April 30, 2007)