Hi I picked up a 1998 gts for about $600. Good compression. Took it out Day one and was riding fine. Then motor started spinng fast and not moving fast. Got back to shore and saw that the engine compartment was filled. - amazing I did not stall as it was almost up to battery. Go home and recalled the little tube on top going into the manifold was disconnected and squirting water. (Easy fix with a zip tie). Day two. Ski running nice for a while and same thing happened. This time the tube was connected. When gave it a lot of gas high revs but took a wheel for the spend to come on. Almost like a slipping transmission. And filled with water again. Could this be the wear ring. If it is, could that be the reason for taking on water and.... does it pay to fix it?