Are you useing the watercrafts pipe? Are they water cooled? Perhaps the water is heated before in enters the head?
Boat motors run on cold water just fine. But the outlet hole is really small. When running a boat motor in a 55g barrel we hook the garden hose up at full blast. It it looks like it is pissing out the outlet hole. 1/4 at the largest.
Thats a lot of drag for a pump right? Perhaps a return line in the system? Or what type pump you going to use? What temp do you think your radiator will run at?
Also your belt setup? how do you think that will work? I never seen it before and was wondering.