G'day folks,
Yep, that looks like a V196, 1977-80 model. Good jiggers - if the base isn't too rusted, as Norm says.
I have a slightly later side pull starter 160cc Mayfair Ute, and it has just a tiny rust hole or two, in the pressed ridge in front of the motor - I'm thinking of using metal filled epoxy putty for that repair, after grit blasting that bit back to bare metal.
Then do the rest of the underside with the wire cup brush, and give it a good brush coat of Bitumen paint - as I just might keep that one.
When I got it, it had new blades fitted - but wouldn't have cut for shite, there was that much of a clippings buildup under the deck. It came off in chunks!