Re: evinrude 40 hp 1964 impeller question
If it's not pumping water well, 10-20 minutes is too long to "warm it up". Start checking temp of head after about 30 seconds. I would plan on changing the impeller if it hasn't been run in several years. Also drain and refill the lower unit with gear oil. Look for water in the oil, or if it's milky, you have a bad seal somewhere.
No matter whether or not the impeller is bad, you need to understand the system on that motor. It has a thermostat controlled recirculating cooling system. When you start the motor and it is at less than operating temperature, the thermostat will be closed. When closed, a bit of water is discharged as a tell-tale and to cool the exhaust pipe. But most of the water is directed back down to the water pump and recirculated. That goes on till the water is warm enough to open the thermostat. When it is open, a lot more water is discharged and the recirculation stops, instead fresh cool lake water is introduced to the system.
It is important to realize that the thermostat is constantly sampling the water temperature and is constantly opening or closing as necessary to maintain ideal operating temperature. For that reason, the amount of water you see being discharged out the back is constantly changing from just a bit to considerable and back again. At idle speeds, and cold lake water, the 'stat might not open at all because enough cold water is being introduced to keep it below thermostat opening temperature.
What does this all mean?? It means that you can't be going around all day dribbling water on the head to see if it is working. Nor are you going to be going all day with your head cranked around backwards to see if water is coming out. There are nicer things on the water to look at. Bottom line: Make SURE you have a good water pump in there and then don't be worrying about it. By "good", I mean a new or recently new impeller and the rest of the pump isn't worn out.
But you say you have a temperature warning light? Hah!! They come on after it is already overheated and the damage is probably done. They don't call them "idiot lights" for nothing.
BTW, your car works exactly the same way except a radiator replaces the lake, and no water is squirted out to look at. You trust it, don't you? You make sure the system is in good working order and drive.