Thanks for the input Grumpy and BB. When I inspected the machine we were haggling over the price and the guy selling it said the motor alone was worth $100! I told him he could keep it, as far as I am concerned it was going in the bin. It is a shame that the machine has lost the originality of the factory engine, however I think the GX is going to be the best fit for this machine.
The most important thing for myself is a reliable mower that starts first pull and cuts to a high level. I have seen some of the restorations on here that are unbelievable in the workmanship and finish; but I would be too afraid to use it in case I scratched it!
I'll post some better pics over the weekend that better depicts the current condition of the paint and other components.
