Something's burning

feel the back of your raw water pump when running..if it's hot.....and you can't touch it..your Impeller is making the stink. Don't ask how I know.

Hola, already mentioned this in
another thread of mine , but figured this deserves its own thread.

I just changed the distributor, and belts, boat has been running fine. However, since changing those, there's always a smell of something burning, perhaps rubber. Can't find exactly what or where but it's somewhere near the distributor, near the belts, waterpump side. If my nose is right, at least ;)

I think that timing might be a little bit off; from what I read here it should be 5 degrees before TDC and the mechanic said he'd put it at 0 degrees.
Could timing being off a bit cause anything to heat up excessively..?

A friend suggested it could be the big (exhaust?) hose, from manifold to damper...
Since it started right when the distributor was changed I figured it had something to do with that, but perhaps just a coincidence and it is something else?
If that big hose, would that possibly the impeller going out? Was about to change that anyway, but what else to check?

Thanks!

Edit: engine temp stays fine.