Ugh.. frustrating.
I ran the engine with water going into the flush valve for 2-3 minutes, revved the engine and everything seemed ready for a water test. Went out this morning, put her in the water. There is a small water leak on the passenger rear, where the steering cable comes in. I couldn't see the leak, but I could see a very small stream or squirt come through. Minor, not going to sink it and it does have what appear to be venturi suction from some rear plastic boxes. I turned her on, idled out past wake, everything sounds and looks good (although speed doesn't work, doesn't spin up when you turn it on either) and I give it some gas and almost immediately oil alarm and solid beep. Turn it off and back on, turn around and go back to the dock under idle. Check oil and its hard to tell between fresh oil and dark dipstick. I go and get a quart of oil so I know it has at least 3 qts in it; I had put the oil back in I drained previously on second rebuild. Starts right up, go back past no wake, give it some gas and immediate oil alarm.
I'm 99% sure it has enough oil even though I can't read the dipstick well just from what I put in. No oil in water, in side the engine bay, in the oil, everything looks good. Took it back home and checked the stick and it looks ok best I can tell, it looks full. I did see I was out of coolant in the resovoir and put some more in.
The rear oil pump was replaced, inner and outer wheel. The front one the inner wheel was replaced but the outer is part of the plastic housing. It had some scoring, but it should be decent. Checked codes when I got home and only the compass not right error. I need to find the sensor and check cabling.