I have a 1991 Alumacraft competitor CS with an outboard 1991 Suzuki DT85. Last season i had an overheating problem, and it turned out to be the thermostat as we have never changed it since we bought it brand new. This caused it to overheat and lose power. I changed the thermostat and replaced the water flow sensor, as well installed a new head gasket. It ran fine for the remaining season. Upon putting it in the water this year for the first time...the water alarm was constantly beeping and when i took it for a ride, it wouldnt go past 15 mph. There is little or no water spitting out the exhaust port, and the tell- tale hole is flowing fine. There is also water in the bottom cylinder. I also notice that there is some rusty water slightly coming from the ehaust cover bolts which tells me that could be the problem for the water in the cylinder(exhaust gasket needs replacing). But i am also curious as to why the water alarm is not shutting off and not circulating in the top end of the motor, while not allowing water to come out of the exhaust port.