Long story short... had a 1990 Bayliner w/ Force 120hp L-Drive given to me with every piston ring broke. Bored block 0.030" over, new pistons/rings, new gaskets, new water pump, new t-stat. Fired it up w/ muffs to tune it, runs great. Dumped it in the lake only to find overheat alarm goes off while cruising above 3500 rpm, never goes off at idle. Removed t-stat and tried again... same thing. Head temps are at about 140 at idle, but climb to 190-200 at higher rpm(overheat alarm trips at about 195) with or without t-stat. Water flow seems good, even flushed and back-flushed powerhead and all hoses... no debris or old impeller chucks. Nothing should be restricting water flow, considering every power head component was hot-tanked and cleaned via power washer. Any ideas?? I hate to melt a freshly rebuilt powerhead!