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Nice boat. I’m on Cape Cod so I am going to be of little help. However, I have a couple of arm chair thoughts. First thing I would do is step on the back of the lower unit and bounce up and down, to see how much the transom flexes. The plywood inside may be rotten after all this time. Second thought is a question. Why are the remote control cables disconnected? Was there a shifting problem when it was last used? Those gear cases are infamous for water intrusion and rust damage, even in fresh water, never mind the battery acid that South Florida people call “the ocean”….I would definitely start at the bottom with that thing and work up, after a basic compression check. Again, very cool rig, though.
Long live American manufacturing!