1968 evinrude 55 triumph overheating

[JDuvall]

This motor has never been in the water. It's been sitting in a crate since 1968. Before I tried to start it I changed the impeller, lower unit oil, plugs, rebuilt carbs and changed all fuel lines and fuel pump and had to build a wiring harness. I finally Got it running but the hot light comes on after 5 minutes or so I turned it off and checked thermostat and it opens and closes but there was no signs of water in the thermostat housing. Could this be a head gasket? I dropped the lower unit to check the water pump impeller it was fine. So I'm checking everything else out and I noticed a milky oily film in the exhaust chamber is that normal? I understand some of the fuel doesn't burn off but does it look like that? Any help would be great. Thanks

 

[racerone]

Testing in a bucket with water 6" above the impeller?----On a hose ?----With boat in the water?

 

[JDuvall]

Boat was at the lake

 

[jimmbo]

When you changed impeller, any chance the Drivepin/Key for it didn't get put back in?
Also any chance the Water Tubes didn't go in the Grommets at the Water Pump?

 

[JDuvall]

Cotter key was laying on the base plate when I lifted the water pump housing it makes me wonder if it fell out some how because when I put it back in the slot it was a tight fit I'm not sure to be honest thats why I checked it again. The tunes were seated I do know that

 

[racerone]

The tubes were seated?-----Woodruff key is now in place?----The 2 plastic guide tubes were put into the pump housing?

 

[JDuvall]

Yes to all. I'm not sure if key was in slot or not when i dropped lower unit to double check it. I'll run it down to the lake tomorrow and see if I got water coming out of the small exhaust ports and no hot light. If hot light does come on then back to square one