the impeller is due, the PO did it just before i bought it i was going to do before running it in the lake, i was running it to see how it runs figured since it was squirting out the telltale it might be ok to runnah, not really, all you will do is foul the plugs faster and have a little more smoke, AKA james bond, lol
check the LU grease, just to be safe ................
when was the water pump last done ???
If you want to satisfy your curiosity about the lower unit, just have a vacuum/pressure test done it. It's pretty simple and a tech can do that under an hour easily.