One of this age can have a litany of complications effecting one appearing issue. Fuel lines and fuel strangle an engine and it can run amuck throughout the system. It starts where you us are looking, goes to the pickup, elbow connection, lines to the valve, valve connections and on through the engine. The most common on older boats is a fuel pump and the fuel lines provided by the engine manufactuer.Second most common is a fuel issue itself and issues within the fuel tank. Third most common trails through to the carbs/throttle bodies, and the lines on the engine. Get the oil lines addressed while your there. The least likely is the boat fuel lines as these were A1 ethanol resistant lines even back then on a Bass Cat. The were NOT ethanol resistant on most competitors boats.