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New to me 05 RXP. Sometimes after starting, and when running, the red warning light on the bottom of the tach flashes. No beeps. When I press set 5 times I get no codes. Any ideas?

I just bought a 96 GTX. Engine seems to run well and hits 7000 rpm without any bogging or cutting out. Was told the engine replaced 5 years ago. But the top speed is around 30-35 by gps (speedo says 25). Impeller has some nicks and chips on the leading edge, but the wear ring looks smooth...