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I'd be suspicious of the radiator.
Are you sure that the gushing water didn't come from the engine side of the hose? Also the tank section of the radiator on a '71 is vertical on both sides of the radiator (cross flow of coolant). The outlet hose is at the bottom of the right tank. Possibly you were seeing the tank emptying and not necessarily flowing through the radiator.
I never heard of a water pump that didn't move at least some water. Unless the shaft is broken. But then the shaft could pull right through the housing.
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'60 544, '68 220S, '70 145S, '72 144E, '86 745T
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