Re: Water pump impeller
Congrats on the new purchase. I've got a 1971 Wilker Galaxie 16ft with a Merc 800 (80hp). A super boat for the great lakes and Simcoe where I boat.
Good reading in the posted link above. Aside from the things you mentioned, drain and refill the lube in the lower unit. Watch for water in the oil when you drain it.
Pull the cowling off the motor and thoroughly inspect the wiring. Mercs of that vintage (post you S/N to determine model year) are known to have the insulation become brittle and crumble off the wire.
Squeeze the primer bulb in the fuel line. If its hard and not pliable it needs to be replaced. Mix the fuel at 50:1 gas to oil ratio.
Remove the battery cables from the battery AND the motor and clean them well. Reconnect (be sure NOT to reverse polarity or you will destroy the ignition system) and tighten the cables securely.
To change the water pump impeller you need to remove the lower unit from the motor. Relatively easy task for the typical do-it-your-selfer. Do a search in this forum and spend some time reading to get a feel for the procedure. A service manual is a highly recommended purchase. The big names are Seloc, Clymers and the best is the Merc factory manual.
One final thing to mention. DO NOT run the motor dry, even for a few seconds. Either run it in a barrel or connect a set of water muffs to a garden hose.