Here's a good place to start!
http://www.iroquois.free-online.co.uk/merco/index.htm
I've two 'cast in' venturi Merco 35's - one still shows vestiges of red paint on the head, a later (I think) Red head (converted from R/C) and a black head with separate venturi (not the plastic trumpet type).
I too would like a 'collectors guide' to all the different models.
I intend to put the Red head on my ARF Flite Streak for next year!
Here is part of an email I received from Derek Pickard regarding Merco history:
The engine originally came out around 1959 and in the then red/orange and red head form was very good.
Some years later when the company hit trouble manufacture was cheapened with the black head not being as good nor the plain head.
By the time the thing was revived in the 1990s the mistake was made of
having too little taper in the liner for the contemporary metalurgy used for the replica and only some of them were good (same goes for the 40version).........even though they used the same materials as the OS.
Hereis a link to Derek's original doc - (excluding picture)
http://www.the.elmores.btinternet.co.uk/Merco_35.htm