Over-heating nightmare!!!

Hi All,
Just got this car 8 days ago, 1984 533i, 87K original on the odometer. the car sat for several months due to estate settlements, I purchased from an attorney representing the estate. I am having trouble with the car heating up. I can drive for 3 miles or so and then the guage rockets to red. I changed the water pump, pulled the new thermostat, had the radiator boiled, bled the system.......still can't get this to cool down. This is making me crazy. I spent plenty of time on the obvious, and cash too, even replaced the fan clutch too. I just don't get it, any suggestions. I am not showing any visual signs of a bad head gasket, no steam from exhaust or water in the oil. When the car heats up, the coolant is forced out of the resevoir. Any advise is gladly appreciated.
Thanks, Tom

patience first-fillthe water tank to the level on the side-open bleed screw on top by cap-run engine at 2grand till level drops,top up keeping revs up,may take time and more coolant. coolant must flow freely from bleed,if it still boils-remove t/stat,drill bleed hole and replace retry.if no joy suspect gasket.

if the thermostat is removed and there is no obvious sign of circulation, suspect-blockage-head gasket-cracked head. but hang on,i know you,ve replaced water pump,it has been known that the plastic impeller comes loose on shaft with heat,or it fouls the gallery and won,t spin.

PLEASE NOTE! The plastic impeller problem ONLY effects M-42 & M-50 style engines! ! ! [ i'd hate to see someone pull an M-30 waterpump needlessly! ] also, most but not all replacement pumps now have metal [ cast or stamped ] impellers.