I have never heard of anything peculiar to those water pumps wearing out soon or anything like that, but let's face it: That's a 35-ish year old machine. There's a reasonable probability that the entire cooling system is not up to the condition it had been when new. Rodding the radiator is a great start. Make sure that the fins are all straight, and that the fan shroud is tight and not mangled. The cooling fan on my 1700 shed some pieces of blade and wasn't moving the air it should; replacements are available and mine moved markedly more air when replaced than the broken original unit.
I run a surfactant in my motorcycles and tractors. Water Wetter is one such product, but there are others. It cannot make up for an inadequate cooling system entirely, but if you have a freshly refurbished radiator and new cap, with a good fan and tight shroud, a proper mixture of coolant, distilled water, and surfactant means if the machine still overheats you almost certainly have engine trouble.
I THOROUGHLY (With soap, copious amounts of water, etc) flush the cooling system on the engine side before I install any cleaned or new radiators. There is a surprising amount of detritus in the bottom of cast iron engine blocks, in my experience, that can only impair cooling performance, and pose a hazard in blocking the tubes of the radiator.