Re: Mercury 200 20 hp outboard
Looks like yours is a 1978. So it is the same year as your boat. I'd read through that thread I posted. That will give you a good idea of what to do.
I can say from experience just go ahead and replace your impeller and check over the water pump. I didn't replace mine after it sat for ten years, it looked ok, and was for a few outings...then went out while out on the lake and I now have a second motor sitting in my garage ready to be torn apart for parts.