Re: '72 merc 1150 temperature monitoring?
Frankly, you'd be better off with a water pressure gage. By the time a temp gage goes off, the motor will be fried!
You may or may not have a fitting on cyl block cover over the spark plugs, if you do that's a good place to tap in with a 1/8"-NPT fitting for the gage.
Otherwise you'd have to figure out where to put a fitting, either in the cover or drilling the top of the block. If you end up needing instructions on where to drill at the top, I can hook you up with a friend of mine who's done that very nicely to his Tower of Power.
If you must install a temp gage, probably the quickest indication of temp on this motor would be on the exhaust manifold cover. There are any number of temp gages with a contact-type of sensor that you could mount on the cover.
In an overheat situation, the cover's going to get hotter a lot faster than the block, so that would at least give you some extra time to shut 'er down before going into Meltdown Mode.
Or, you could go with a water temp gage, they make those too.
If you search this site you may find something, or check out these search results:
http://www.boatfix.com/catalog/11.pdf
http://www.boatfix.com/bykeywordnew2.asp?textfield=temperature&texttype=2&submit=Search
HTH and let us know how you set it up...........ed