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Old Evinrude update...Normal or not?

Hey guys, first, thanks for all the good info. In my prev thread I was having troubles keeping this beast running (1960 75 hp evinrude 50523). I found the plug wire ends to be all rusted and breaking, so I took some plug wires from an old race engine I built and fashioned new ends on the existing wires (The metal part that clips to the plug, instead of the old little spring). Anyway, ran like crap at first, kept blowing exhaust out the bottom into the trash can in big puffs, BUT after a little bit, and putting the cover back on, it smoothed right out. I let it run, at idle for about 5 minutes straight, no issues.

My questions:
It is blowing some water and steam from the exhaust, the water is hotter than the steam. Not alot of steam until I rev it up a little and then rev it down. I also noticed after the 5 minutes, I sprinkled a little water on the engine and it sizzled. When I lift the engine from the water, water is pouring out from the little holes above the gearcase. No thermostat, just guess work. Lastly, runs better with the engine cover on. I'm assuming this engine likes the hotter air.

Just wondering if this all seems normal. Personally, It's running and starting WAY better than before and I'm ready to test it on the lake, but I would also like to avoid trolling it back in with a headwind! Thanks again!
 
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