340 Overheat / Radiator Geyser

The slipping impellor deal can be checked by pulling the by-pass hose off the timing cover and slide a tool with a bent end as in pic, you can hook, or jamb the impellor to check if it's secure to the shaft.
As mentioned, the rad is shedding enuff, if it were mine, put the cap on, tape over the gauge, and drive it for a week.
jmo, good luck .

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