Your black plugs sound like an issue with worn rings. What's the history on this engine? Are you getting smoke in the cabin?
The restore/replace issue has been discussed extensively on this forum. The forum members like the Atomic 4 and will urge you toward restoration. A mechanic will likely recommend replacement with a diesel which will cost you a lot of money. Look at the price of a new diesel and double it.
Do you want to always be reliant on a mechanic to do your maintenance and repairs? Developing your own capabilities will give you freedom - the freedom to go where you want without worry. Cruising has been defined as 'getting to fix your boat in exotic locations'. I've cleaned my carb while onboard and under way - I wouldn't think of trying that with diesel injectors or an injection pump!
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