Re: water pressure?
Thinkin' that motor is just a plain jane type poppet without tha hose from tha top being a '87. So tha bleed hose ain't gonna come in ta play. If tha motor is gettin' warm and you KNOW tha warning buzzer is working, I'd take it to tha water and run it. Just moniter tha motor temp by hand if you have to. You should see a pressure drop a little above 2500 or so when tha poppet opens. But in your case it may not move very much at all. Watch for pressure irregularities like big fluxuations at a steady rpm, peggin' tha guage and etc. There may be a problem in tha adapter plate but don't think so.
Sometimes you get tha new stuff that has a lot better tolerance with parts that make a little more pressure, just never seen that much. Its uaually air that cause unusual high pressures but from tha intake on tha lower to where you are pulling tha pressure guage theres really no place to pull air in tha system except around tha pump and copper tube.
Try tha above and see what happens. Just take special care ta moniter tha motor temp...............
I sawed a rotten log in half with the XR4 one time, and it behaved like that and also overheated.
I had to pull the t-stats, poppet, exhaust cover and divider and clean all the shredded wood out of the small passages inside.
Someone here will post a water routing diagram. I'll try to explain it. The water pump puts water into the block. Different passages route some of it through the heads and out the base plate, some through the t-stats and out the base plate, some out small ports in the bottom of the block and through the base plate, ans some through the poppet above about 2500 rpm and through the base plate. The bit that goes out the tattletale is insignificant.
Normally, enough escapes the open ports at idle so the pressure is about 4 or 5 lbs. As you rev it up, at about 13-15 lbs the poppet will operate and the pressure will lower a bit in a step, maybe 2 lbs. then as you speed up it'll ramp up to a max of 15 or 20 lbs.
Has it been worked on? Is it possible it has the wrong base or base gasket in it?
hope it helps
John