I finally got the motor in my '85 RX-7 GS running, in the most basic sense of the word. This is not the original motor, although it is also from an '85 GS. The motor had over 120K miles on it when I got it, although I don't know the exact figure (dash was gone when I pulled the motor). I was merely promised it ran when the car was parted out (matter of weeks, not months/years). There was no stipulation on how well it would run, as it was only $150.
Here's my list of problems:
Surging Idle- Usually symptomatic of a vacuum leak, although I can't find one. Often caused by something else, though. Tach doesn't work either, although I just replaced the trailing coil.
Won't run without choke- It will idle for as long as I ask of it, but the moment I open the choke, it dies.
Water in the exhaust. LOTS of it.- Clouds of dark steam are coming out the exhaust filling up the garage, and puddles of black water are forming under an exhaust leak under the car. I tried an RX7Club recommended fix of Alumaseal (thread here: http://www.rx7club.com/showthread.php?t=750774) and that doesn't seem to be doing a lick of good.
1 and 2 could most likely be solved with a carburetor rebuild, but 3 worries me greatly. I'm afraid this motor is a paperweight. Is there anything I'm not seeing here, or not trying?

