Magneto?
You say you've replaced the battery and rectifier. Did you use a voltmeter to check and see if your charging circuit was working.
If you have to, charge your battery, put it in the ski and test it with your meter to see how many volts it is storing, then start it up. If your fast enough, you won't even need to hook up the water. But if your in-experienced in doing this, you may want to.
When the engine is running, set your voltmeter for 20 VDC and put the leads on the correct terminal posts. With the engine running, you should be reading anywhere from 13.5 to 14 VDC. This tells you your charging circuit is good.
If your not showing a charge and you've replaced the rectifier, you may want to do a test on the magneto. If your not a premium member and you don't have access to a manual, this test will be hard to do without it.
Good luck!..........:cheers: