Joe,
Sounds like a rich fuel to air mixture. Wet plugs simply mean that the fuel 
 isn't burning completely. New plugs might help, but I would look 
elsewhere. I  remember that Claude had a similar problem with his four stroker and 
found that  a mud dauber had filled in an air intake line with mud. Once the 
line was  cleared the engine ran fine. I believe it was a vacuum line or 
something like  that. Check the carb out closely. Spray a little WD-40 or carb 
cleaner around  and if you find a red river of clay coming out of anything 
you've located the  problem.
 
Rummy
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