A possible fault (while not a pleasant one) you may want to consider is a cracked head or failed head gasket.
Upon rebuilding my woody boat in 2012 we re-installed the motor which had been running perfect previously. It was winterized and stored indoors. The boat started easily and ran fine at idle yet, when under load or on plane it would overheat in just a couple of minutes.
Thermostats, impellers, manifold change, new hose, new head gasket... nothing worked. I finally upgraded to a new engine but, a post mortem found a small crack in the old head. this crack expanded under heat/load to cause the overheating.
Sean Conroy,
1964 Formula Jr. (hull #2) project
1972 Greavette Sunflash III
1981 Kavalk Mistral project
"A man can accomplish anything... as long as he doesn't care who gets the credit."