Re: 1980 Merc 115 overhets. (I think)
Upon failing to restart, have you checked for spark?
I'm betting you don't have any and I'm also betting a bad stator.
If you are having spark issues, take resistance readings on the stator when cold, then when warm. If the resistance values change considerably the stator is shot. I'm just working on a '76 850 that's doing this, starts and runs OK for a few minutes then no spark until it cools. Stator checked great when cold but resistance on the Low-Speed windings went haywire after it lost spark.
These are the values expected for a good stator, if you don't have a meter, you can pick up a perfectly useable one at Sears for under $20:
Blue-to-Red stator leads: 4500-6200 ohms;
Blue/Wht-to-Red/Wht stator leads: 5400-6200 ohms;
Red stator lead to powerhead ground: 125-175 ohms;
Red/Wht stator lead to powerhead ground: 125-175 ohms
For detailed instructions on how to diagnose stator issues, do a keyword search on this forum for "stator" and you'll be amazed at all the problems these Pesky Buggers have been causing!
This site has additional, good info regarding troubleshooting ADI-type ign's in general:
http://outboardparts.com/mercury/troubleshooting/troubleshooting10.htm
HTH............ed