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Without looking up the year, I am going to bet that it has steel shafts, complete with massive pits in the driveshaft seal area. Not only do they not retain gear lubricant well, the leaking lube will get into the impeller area and shorten the life of the impeller, by affecting the adherence of the rubber to the brass hub. It will run and pump great for your test run (and I assume, resale) but the gear case and/or impeller will fail in a year or two, without the due diligence that the average outboard owner just will not have. You can replace the drive shaft seal but the shaft will just tear it right up in short order. Trying to repair or replace that shaft will far exceed the value of the motor. That would strictly be a labor of love.
Long live American manufacturing!