Re: Water pressure gauge on outboard!
If you do a search on Water Pressure Gauge, you will see quite a few posts on this subject. I have both water pressure gauge and temp gauge on my Evinrude and consider both essential. The wps will monitor the health of your impeller and you can quickly see any changes in pressure to alert you to any potential overheat problems before the temp gauge starts to rise - so it's a kind of double insurance for not cooking your engine. Also if your water intake gets blocked, you can see it straight away.
Like Real Poor said, they are easy to install. I got my T-fitting from Halfords - they sell them for car window washes and they are just the right size. The gauge I bought on Ebay, but most chandlers should have them. I have OMC on mine, but I think Teleflex makes them also.
The water does not actually travel up the tube to the gauge, it just compresses the air in the tube and that's how you get the reading on the gauge. I've got mine next to the temp gauge, so I can quickly scan them both at the same time and then you don't have to worry about checking your telltail all the time. Good luck!