might have to revisit water pump installation(?) Think I would first try flushing it down from the top, through the thermostat housing. Salt corrosion is a bugger -- another poster flushed with some vinegar, which might not be a bad idea. I think, though, that flushing might clear a blockage, or at least tell you if it's cleared out (water keeps flowing out the exhaust port, unlike current situation). If clear, think I would try running it again, then pull the l.u. again if flow stops -- suspect impeller issue of some kind at that point, maybe a problem with the pin/key?
Motor sounds good, anyway...