I have a 32 Convertable with fresh water Crusaders. Two sides to the cooling system, raw water side and antifreeze side. The raw water side goes in this order... sea cock, strainer, v drive, sea water pump (Sherwood), trans oil cooler, heat exchanger (raw/sea water side) and then out to the exaust elbows where the sea water leaves the boat with the hot exaust gasses. The fresh/antifreeze side is a closed loop staring at the heat exchanger, into the thermostat housing, throught the block, out of the block at the back of the circulator (car water pump)pump and back into the heat exchanger. A problem with either side can cause you to overheat. Check to make sure you have plenty of good clean antifreeze in the heat exchanger or a worn out thermostat. After that start checking the sea water side for possibe obstructions. If you are not getting enough sea water through the boat you won't cool the antifreeze in the exchanger.
check for clean intake, clean strainer, good or new impeller in sherwood pump, no junk blocking the oil cooler including peices of a replaced impeller and lastly no blockage on the exaust elbows (the water needs to be able to get out of the boat). If you have two engines and one is cool compare the temp and volume of water coming out of both.
My risers and manifolds both have antifreeze. Only the exaust elbow is sea water.