First off I have a 1986 Merc 470 That the temp runs at 165 % at idle as soon as I give it full throttle the temp shoots right up to over 200 % and blows its top. I have been lucky not to hurt the motor. I have replaced the impeller checked the thermastat witch was bad.It did not open, thought that was the problem and was wrong . Checked the compression it was also fine. Runs great right up until it overheats. I also pulled the exhaust elbow and found alot of rust in the port where the oil cooler connects and the flapper is completly gone. Could this be my problem and do I need the flapper. I realy do not want to overheat again. I should also tell you that I have good water flow through the heatexchanger and no tell tale leak at the motor water pump.PLEASE HELP I DO NOT KNOW WHAT ELSE TO DO!!!!!!!!!!!!