May i please confirm the exact model of the Briggs and Stratton engine currently on my SB.
my research suggest this is a 4 stroke with 3hp. is that correct?
Yep, correct on both. Briggs engines of that era are all 4-strokes.
From
Model 80202: this translates as [in order by digit] 8 = 8 cubic inch displacement [this is a 'class', rather than exact figure, approximately 131cc]; 0 = Basic Design Series 0; 2 = Horizontal crankshaft with Pulsa-Jet carby; 0 = Plain main bearings; 2 = Rewind starter.
Info from the 1981 B&S Service & Repair Manual.
Also, I'm trying to understand the pros and cons of powder coating vs non-powder coating. Would be great if someone could elaborate.
This thread, which I see you've posted on, has very good info on the drawbacks of powder coating SB45 components.
https://www.outdoorking-forum.com.au/forum/ubbthreads.php?ubb=showflat&Number=59261 Rover used it after they took over manufacture, and it wasn't a success, in durability terms; whatever its production advantages may have been.
Powder coating is most durable on rounded forms; with no sharp edges, where it tends to crack and hold moisture underneath it. Which then becomes a corrosion hotspot...
The more i read on this forum the more tempted i am to restore it. I love the videos re engine, soleplate etc.
We'd like to encourage you in that; it's what we like to see, and help with!