1990 Four Wins / 4.3 OMC/ Outdrive ? was running just fine -yesterday while towing a skier I hear a ?pop? sound and some burned rubber smelt started - and the engine lost power . I was able to make it to the slip on a very low speed ? any higher speed just gave more smoke and smelt. Checked with local mechanic ? he said it?s a water pump. I would agree ? I saw the temperature was higher than usual. But when started on a cold engine ? still have no power and weird engine sound; so I think it?s something else/more than just water pump. Boat is out the water now. Greatly appreciate any advice in troubleshooting?