130 Yamaha Overheating at High RPMs

[tomdion3]

I have 2000 Yamaha 130HP where the water overheating alarm goes off at around 4000 RPMs... I replaced the two thermostats this weekend but it failed to correct the problem... My next step is to replace the water pump and impeller... However, the water flow through the "peep" hole is strong... Also, the water coming out the "peep" hole is cool not warm - I thought this water should be warm... Any other troubleshooting ideas before I replace the water pump?

[boats.net]

Replace the water pump, that will probably fix it. The water at tale-tell will be cool.