- The PO may have done excellent work and maintenance, maybe not. The only work you can trust is your own. We generally hold PO's - and many so-called professional mechanics - in disdain around here.
- New tank is the smart move. The ethanol component in gasoline acts much like a solvent and can return tank residue into the mix.
- Please replace the O-ring seal on the fuel fill cap. It's seldom done and a critical sealing point.
- Again, with ethanol in the fuel it absorbs water rather than allowing it to separate. My guess, depending on the volume of fuel you had in the tank, is the ethanol absorbed as much water as it could to the point of saturation and the remaining water is what you saw in separation. I wouldn't trust the old fuel to start a campfire, maybe to put it out though . . . .
My best advice is to get much more aggressive in cleaning up the fuel system. The engine sounds sweet when she's running.
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For next weekend, I think I'm going to pop off and clean the carb, then try running it again. If that doesn't work, Ill do the auxiliary tank check
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If you run old (read: questionable) fuel through your newly cleaned and rebuilt carb, you'll need to clean it again after. You may want to reconsider the order in which you're trying things to prevent doing the same repairs over and over.
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Is it worth changing the filter in the racor if I don't know its history?
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Absofreakinglutely. Until you get fresh gas in a clean tank you should have several filters on hand. There's that repeat repair thing again.