I have a 1 hp Water Ace 230V single phase submersible pump. Stopped working last weekend. Bought a new controller to see if it would solve the problem. This one has the two capacitors and the overload with the switch. Hooked up the controller and put power on. Overload pops after a few seconds.
Here are readings I got:
Voltage 240V across the leads.
Resistance: Yellow/Black 3.0 ohm; Yellow/Red 11.2 ohm; Black/Red 13.8 ohm; Each color to ground ~15K ohm.
especially since you have a new controller, I would highly suspect the pump. There is are a couple of components in the controller that, if they were bad, could cause the symptoms you have but since you have a new controller, (and presumably sized properly) sounds like it is pump time.
be sure you connected the motor correctly though. That too would cause you problems.