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They are definitely collectable. It looks to be in OK shape, but I would not call it perfect, especially if the skeg is broken(hard to tell from pictures). It would be a good candidate for a restoration if that is what you have in mind, but it’s your motor so you should do what you want with it. There are undoubtedly better examples in original condition so you would not be ruining a motor in “great” original condition because it is more of an “ok” original condition. If I had the time, I would restore it, but just fixing it to run is a lot easier and that would probably be the path I would take with it if it were my motor. If you are the owner of the 2-3 Elto pals in the picture, you may want to consider restoring the lesser condition of the pals instead because you would know that you are keeping the better of the two in original shape if originality is important to you. It’s your choice, but that is also something to consider.
"Outboards seem to multiply exponentially..........I find that for every finished project, there are two more waiting to be completed."