Is the new fuel pump have more than 7 lbs pressure?

Firing order is correct. I have not yet checked fuel pressure I have a fuel pressure gauge but I have to figure out how to rig something up to connect it as the one I have just has the adapter for a schraeder valve for later model Fuel Injection systems. I did think about checking that but I have to first figure out how to attach my gauge.

I just went back and read the entire post. You have a 87 Sea Ray Pachanga? Do you still have mufflers on it? If you are running it on a trailer the bow needs to be UP in the air. That muffler setup can cause an exhaust restriction and make it run rich. I have worked on Pachanga's for over 15 years. My first choice is remove the mufflers.

Are you sure your original fuel pump even had a spring under the actuator? There were some vintages of the fuel pump that did not have the little spring. You may be chasing a problem you don't have as far as pulling the oil pan.

funny i just read this post and had to laugh. I just replaced a mechanical fuel pump today on a 1988 7.4. and the carb started dumping fuel bad. replaced float and needle and seat and same problem. checked fuel pressure and was shocked - 18 psi. WTF
parts manager calls merc and they say - yeah we have had inconsistencies in lever from suppliers. installed used pump from another engine and pressure down to 7 - 8 psi. waiting for new pump from merc w/ fingers crossed, good luck and make sure you check fuel pressure

My original 1988 pumps, one had the spring one did not. The spring was not in the engine so I know it was never there. The only thing the spring does is keeps the pump arm from floating off the cam lobe at high rpm. I did replace the pump with no spring because I didn't know what was up and it made no difference.

What carb do you have?

Sorry its been a while since I have been able to get back on.
Carb is completely stock rochester quadrajet. I will look again at the underside of the arm and see if I can see any wear marks from where the spring would have been. The new pump definitely has it.I have yet to be able to get back to the boat and check fuel pressure but I will hopefully be able to before I winterize it this weekend. Yes it has the stock powerlift mufflers. The nose is up but not WAY up and I have never had that issue in the past and have run it on the hose multiple times. I will try to post on Sunday and let you know what I find. I do appreciate all the help. Just been a very frustrating year.