Btasler.... You've said nothing about a warning horn. Did it come on and sound constant and steadily, and if so, did you shut down the engine quickly? The warning horn comes on before the engine is hot enought to do any damage, hence the terminology... "Warning".
To check the horn, have the key in the ON (not running) position, then ground the TAN wire at the cylinder head out to the powerhead. This completes the warning horn circuit and the horn should sound off steady and constant. If it does not, find out why as this is the only warning you'll receive should the engine start to overheat... the next warning is the engine powerhead turns brown and seizes up solid! (Too Late)
The thermostat and poppet valve assemblies are located at the top area of the cylinder head. The thermostat opens at approximately 143 degrees. The poppet valve opens if/when the water pressure exceeds a certain point to bypass the thermostat should you his a rpm high enough before the thermostat opens... keeping it simple.
Even though you installed a new impeller last year... that could have failed 30 minutes later. Drop the lower unit and inspect the pump assembly. I strongly suggest that you install a complete water pump assembly as a new impeller in a slightly pitted housing etc is a poor fix! So it may be a $100 fix instead of a $30 fix.... what's the engine worth?
If you've never changed the thermostat, it would be a good idea to change it... and inspect the nylon poppet valve as they've been known to fail/melt somewhat. Best to be sure.
Check the compression and the head bolt torque. Compression should be 100+ psi and even on all cylinders )or close to it). Bolt torque should be 18 to 20 foot pounds and tightened in the following sequence as follows whereas each number is a head bolt.
13..14
9....10
5.....6
1.....2
4.....3
8.....7
11..12
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