I did the unthinkable. Ran my Yamaha out of oil. There was plenty of oil in the boat reservoir but it did not pump into my motor reservoir. No alarms went off, the motor just suddenly dropped down to idle. I shut it off right away and added oil to the motor tank. It started up but was smoking very bad. I turned it off and got towed in. At home I started it up to flush (saltwater use)and it was smoking a lot again. Not making any clanging or banging noise, just smoke. I turned it off and it seemed to continue to smoke out of the upper exhaust ports like it was smoldering or something. The motor has about 1500 hours on it and I use it year round. More of course in the Summer than winter, but still pretty regular. I know there is a problem with the motor oil sensor but I know I can fix that. What I am asking is should I get a rebuilt Powerhead and swap it out or open up the motor to see what the specific problem is, or rebuild it from scratch by myself. I had the Powerhead off last year to replace the steering arm (greased all the problem bolts) so I know it will come off fairly easy. I will appreciate all suggestions from those of you better versed than I in the Yammy fields. Thanks