Not too surprising that both water pumps leak anti freeze around the shafts. I'm hoping they might seal up a little with use (wishful thinking maybe?) but I drained the system so it doesn't all leak out overnight. Still too cold at night to leave water in the cooling system.
I am a little amazed that the fuel pump and carburetor work as well as they do considering they have been sitting unused for over 30 years.
A new problem surfaced when I tried dropping it into drive. Absolutely nothing happened. Not even a clunk or hesitation. The fluid level looked good when I checked yesterday so I don't know what the problem is there. I had hoped it might at least move under it's own power but that won't happen until I figure out the transmission problem.