I HAVE (HAD)A PERFECT RUNNING 1987, 4.3L OMC COBRA ON A 19FT CELEB. (TOTAL HOURS 270) AT THE BEGINING OF THE SEASON I "TULIPED" A VALVE. PULLED THE HEADS OFF, HAD THEM FIXED AND RE-ASSEMBLED. TOOK A DOZEN OR MORE TRIPS SINCE THEN, ONLY NOTICED OIL LEVEL RISING (NO SIGNS OF WATER ON DIP STICK)<br />JUST OVERHEATED AT THE END OF LAST TRIP (74 MILES)<br />SHUT DOWN MOTOR AND TOWED BACK. HYDO LOCKED, WATER IN ALL (ALL) CYLINDERS. BLEW OUT WATER, COMPRESSION CHECK ALL CYLINDERS GOOD. FOGGED MOTOR, RUNS FINE WITH GARDEN HOSE. NO OVERHEAT. CHANGED OIL (APPROX 2 QTS WATER CAME OUT). REMOVED EXAUST MANIFOLDS (20 YRS OLD) DON'T KNOW WHAT TO LOOK FOR, WATER IS PRESENT, NO SIGNS OF CRACKS. EXAUST MANIFOLDS FAIL? (BOTH?), HEAD GASKETS FAIL? (BOTH?) INTAKE MANIFOLD CRACK? BLOCK CRACK? PLEASE HELP... YOUR THOUGHTS????