So to re-cap, I flip the switch to start/run and it tries to start but doesn't, AS I am flipping back to the off position the motor fires for a brief moment.
I took the spark plug out and held it against the head and saw when I turn the switch from Start to Off, it sparks one time and then dies.
Well later after we got out on the water I messed with it again and found that there was only about +3v coming from the control box to the thermal switch that feeds the +12v to the coil. I pulled the thermal switch off and checked it, it is good. I pulled the 12v supply off, connected a wire from the battery to the coil and the motor started right up and ran fine BUT with a large load it would bog down really easy.
I followed that lead back to the inside of the control box and it is connected to a tall cylinder "thing"

I have pics of all this but can't access them from here at work to post them. I will post later.
Any ideas why the control box would stop supplying the +12v to start the generator? Let me re-phrase that, it supplies power to the starter to turn the motor over, but not +12v to the coil to run the motor.