Thanks for the ideas.....I took out the carb's internal fuel filter... a q-jet tech website said that would effectively solve fuel starvation problems. I still had a normal inline filter in the system... just seems to be too much water for normal condensation. The water looked clear.. it had some exhaust soot mixed into it, so obviously there was some black. At first I looked at it, thought it might be oil. But it wasn't slick. I smelled it... didn't have a coolant smell. Since the water is coming out of the exhaust.... It pretty much narrows it down to condensation or a head problem I would think. The fact that it is coming out of both tailpipes is kind of interesting. The weather has been a little weird up here the last fews days.... maybe I'm over exaggerating. But it just seems like too much water. Thanks.