Good ol' flash photography, it never gives the best representation of a colour at the best of times and also if there's one thing we've discovered over the years and that was the Scott Bonnar colour of Alpine Green was never 100% consistant over it's lifetime.
If you look at the distant photos you've taken the machines look far darker than the close up shot of both chain case interiors. This is the flash washing out the colour due to flash bounce.
My choice would be to choose the darker one as its closer to what most SB's are.
The sprockets on the second machine look better than the other machine to be truthful but they are pretty much of a muchness.
The engine number corrolates to the date you've suggested and also suggests that it's more than likely the original power plant for that mower.
If you are doing a total tear down I would most definitely replace all bearings as it's easier to do while it's all apart that have to revisit and worn bearing 6 months later.
Actually that bed knife looks really good and should lick up well by a competent machinist, but as far as the reel is concerned a new one will rather hurtfull on the wallet. I'd keep my eyes open for a rather flogged machine on Gumtree that's full of stree fractures and then take the reel out of that and salvage what else is good, then scrap the rest. I know that doesn't sound the best but it's the cold hard reality of life nowadays. Something must die for something else to live on.
Cheers, BB.
I live a 24 Hour lifestyle, but every now and again I seem to fall asleep, well at least that's what my wife tells me.