I've been looking at that one all along, thanks Mark.
Update: I took the pump apart, inspected the impeller, replaced the o-rings on the two drain plugs (one was missing, the other was nearly rotted) and then reattached everything, primed the pump andddddddd ... no change. Still no suction. One thing that I did not say earlier, the previous owners did NOT winterize the pool - the drain plugs were left in the pump with some water inside of it ... and yes we had plenty of cold nights this winter. I inspected the strainer pot carefully for cracks, same with the strainer pot lid, etc. Didnt see anything.
Stopped by our local independently owned pool store today and they're just as stumped as we are. The pump was bought new from them in 2008, FYI.
Man I am beyond frustrated with this thing and not sure where to turn next.