What was found
AFTER AN APPROXIMATELY 30 MILE UNEVENTFUL FLIGHT WITH A LANDING AND TAXIBACK FOR DEPARTURE AT HVN THE AIRCRAFT WAS CLEARED FOR TAKEOFF BY THE TOWER. THERE WAS A FEW MINUTES OF HOLDING PRIOR TO BEING RELEASED. ON TAKEOFF FROM HVN RWY 2, THE AIRCRAFT FUNCTIONED NORMALLY UNTIL THE FIRST POWER REDUCTION AT 700 FEET AGL. THE THROTTLE, PROP AND MIXTURE CONTROLS WERE FULL FORWARD. THE PRIVATE PILOT ON BOARD PULLED THE THROTTLE BACK TO REDUCE THE TAKEOFF MANIFOLD PRESSURE FROM 32 TO 25 INCHES. DURING THIS REDUCTION, THE ENGINE LOST POWER, SURGED BRIEFLY AND LOST POWER AGAIN. THE THROTTLE APPEARED TO HAVE BEEN RETARDED SLOWLY AND CORRECTLY FOR THE EXPECTED POWER REDUCTION. THE THROTTLE WAS ADVANCED AND NO POWER B