LouC hit the nail on the head on both of his posts.
Last year I had a friend help me winterize my twin 4.3 engines. He used the winterizing kit hooked up with muffs to the outdrives. We let the motors warm up for 15 minutes or so, then switched over to antifreeze.
After he left, a neighbor came over. He is very anti-winterizing kit. We disconnected the manifold hoses and sure enough - pure (or close to it) purple anti-freeze. Took out a block drain and sure enough - pure (or mostly) water
I then did everything the water LouC said. Had I not, I wouldve been out two 4.3l engines this past spring!
Yes, the vast majority of the raw water bypasses the engine and goes right out the manifolds. Only a portion goes through the engine, and only after it is hot. You would probably have to run 50 gals of antifreeze through one of those kits to get proper concentration in the engine block!