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the ONLY reason that the exhaust pipe would likely be the original aluminum and that color is if the paint on the pipe was burned off with exhaust heat, or if a heck of a lot of carbon deposits were leaked from the engine if the seal on the top was not very good. steel is 75% likely to be a later owner replacement because any factory replacement would probably have been aluminum just because of low cost and ease of production. From what I’ve found from past forums, they are less common than Pals, but I suppose they would not be considered “rare”.
"Outboards seem to multiply exponentially..........I find that for every finished project, there are two more waiting to be completed."