I have a 88 Wellcraft with a 4.3 GM motor it appears I just bought. First time I took it out busted the lower unit and a boat repair guy who was a friend of who I got boat from rebuilt lower unit. After changing fuel filters and oil decided I was going to take her out. after 5 min of running WOT at about 4500 rpm noticed temp gauged jumped to 240. Shut her down on water still had dog house off and the as alot of cracklin/poping and smoke and I thought I was in trouble. Got it back to house- exhaust manifolds were steaming hot but no burnt wires or anything unusual I could see, let her cool off a few hours and checked and there was no thermostat. Put on boot, water comng out of little hole on lower unit started it up and with 5 minutes of idling with one rev up temp went from 140 to 200. Im new to boats and know just enough about cars to be dangerous...Could this be a bad waterpump by chance or something else.