A friend of mine had a lot of engine work done on his Elininator by a marine jet drive pro. The mech installed a water control valve next to the driver's seat. Whenever his engine is below 2000 RPM he shuts the valve off.
I've also seen, with success, a water pressure regulator on the engine's water inlet from the jet drive. I've heard jet pumps put out about 200 - 300 psi, cars only have ...? what 14 lbs @ 200 degree's.
My Roger's, if I ever get started on it, is going to have thr-transom exhaust for the kid's sake. I'm going to use a water pressure reg. on the engine. Home Depot.