Merc 90 4str year 2000. Carbs. (It's the Yamaha block)
Bowling down the Sound of Jura, I was, when suddenly it was silent.

Kill switch I thought, but it was connected. Plenty of fuel. Turned the key, absolutely dead. No instrument movement, the rev counter still stuck at 3600, my cruising speed. A foul smell of burnt insulation (like when a hand held tool burns out its motor) came from the air intake. I reckoned this was pretty terminal. What I did next is another story.
Later I had a look. Nothing really obvious, but the smell was still there, a bit around the flywheel and more around the ECU and rectifier?? on the front of the engine.

. I also recalled that smell last time out, but so faint I wasn't sure if it was real.
In view of a recent thread on battery isolating switches, I'm thinking there's a problem with that or the main cabling from battery to engine. Guessing that there was a break in continuity or high resistance which has burnt something out in the charging system. Could this be true?
Anyone with experience of these engines got any thoughts as to where I should look first? (apart from the battery isolator). Charging coils? Rectifier thingy? ECU? Somewhere else?
The absolute deadness is symtomatic of blown fuses according to the manual. I need to tilt the engine up. Is there a way to do that directly by connecting another battery to the tilt relay terminals? Would it be safe to replace any blown fuses provided I don't start the engine?
Any good guidance appreciated.