Bypassing VRO pump?

[Skyking]

The warning horn on my 85 Johnson 60 horse occasionally sounds with a beeping that varies with RPM. My service manual says it's an indication of the engine not getting oil. With the price of a new VRO pump, alot of guys have recommended just bypassing the pump, and just pre-mix the fuel at 50/1. Anybody done this?

[boats.net]

It is a commenly accepted modification, however we have not completed this task and cannot comment on the success.