Sue, I agree with your conclusions which are based on historical records as they are written. The Maughold Parish burial record for John Looney (Yack) being the key piece that ties all those records together.

So if we were to draw this out and omit the land transfers, the line of descent from John Looney and Margaret Kelvie to their Son and Grandson would look like this:

John Looney
Born ?,
Buried 26 Jul 1769
Married: Margaret Kelvie ~1742
She was buried: 12 Jun 1798

Their son: John Looney (Yack)
Born: abt. 1747
Buried: 2 Dec 1835
Married: Isabel Camaish 17 Sep 1788
She died: Jan 1817

Their son: John Looney
Christened: 21 Sep 1788
Died: 9 Sep 1872 Australia
Married: Rachel Redhead abt. 1809
She was Christened: 11 Jan 1789
Died: 25 Aug 1863 Australia

I am a descendant of Robert Looney who went to America about 1700 so I have no stake in what family relationships the IOM historical records shows for this family. I am however, directly involved in the Looney Y-DNA Project and I am interested in the accuracy of family lines of descent for the men who submit their Y-DNA for testing.