I have a 55 merc with the original teapot carb and it's given me issues since the day I bought it. Full disclosure I'm a newb in the car world so I am constantly confused but trying to learn as I go. I've taken it to an old timer who has lots of experience work on these yet it still has the issues. First, it leaks which he says they have a flooding issue. To crank it I have to hold the gas pedal to the floor. Next, this past week I noticed some smoke and a smell of some liquid burning. After investigating, the smoke is coming from the manifold down (remember I don't know anything) near the bottom of the engine. At this spot on the manifold is a thing that looks like a handle on a toilet. (See I know nothing ) at that spot a liquid looks like it is leaking and the smoke is coming from there. My mechanic I mentioned earlier said today he fixed the smoke problem saying it was a gasket, however after I picked it up, it was doing the same thing as before. Also, every five miles or so now, a wall of smoke comes out of the exhaust. I don't know if this problem is directly connected to my carb problem or not. As for the carb I want to replace it as I was hoping for some advice on what current carb is best. My engine is 292 y block. Sorry for so long a post, if no one dares to try to get thru it all I wouldn't blame em. This is just even more important to me cause this is my daily driver and I want to try to resolve this issue as soon as possible without dropping more money with no results.