If you read the Johnson/Evenrude manuals on these older motors, they expect you to replace the impeller about each new season, so hopefully some of youall have done this before in your own backyard.
After checking for mud daubers and etc with a coat hanger in the exhaust and water passages and finding nothing, I decided it needed to be pulled apart.
The problem was pretty obvious if you take a look at the brass center of the impeller -- the impeller was not spinning:


From what I could tell- the little key (impeller drive pin) in the driveshaft had come loose and slid down out of position where it did not stick out as far and was not making contact with the impeller. Also, apparently it or something had damaged the inner brass fitting on the impeller.

The key will not fit back tightly into the driveshaft even with some scoring by me, so I am going to order a new one -- unless someone can tell me how to get it to stick in that slot. The slot in the driveshaft appears undamaged.
However, I am wondering if the slot in a new impeller would keep it tight.
Another question is this: There were no gaskets on each side of the impeller housing plate when I took this apart (the mechanic who replaced the impeller the last couple of times has moved away, so I can't ask him)- Anyway, he had carefully scraped away the old gaskets and just put it back together metal to metal. No Form-a-gasket, no nothing.
Well, of course I am blessed with the one Johnson outboard that they only made two of back in 1976, ha ha, and I have to go to a Johnson dealer, no aftermarket cheaper parts for me this time

The impeller only - no gaskets costs about $35.
The water pump repair which is the only way to get the gaskets costs about $75, and I don't need all the other stuff in it.
Any opinions on whether I should try to save the $40 and don't use gaskets? The gaskets go on each side of the shiny plate (impleller housing plate)below the impeller:

Thanks !