out of all the items you mentioned, i would be the most concerned with the soft cuddy deck. the deck around the seats can be repaired without lifting the cap. mine (83) was soft under both seats and half way down the passenger side to the middle of the tank. to repair the foredeck properly, i believe the cap would have to come off and the work done from the bottom. one member(joe from miami) repaired his from the top and was happy with the results. i'm like everyone else, if you pay $1200, put $1500-$2000 in a hull rebuild and then need a 2 or 3 thousand used motor, you could probably find a better deal getting a better cared for rig. but if your looking for something to do and the peace of mind of knowing what you got, go for it.
after all, you should never mix common sense and economics with boating
reel, you got good eyes, also just noticed it's a 20" transom, not a deal breaker, but makes offshore a little dicey and might be harder to find a replacement motor.
here is where joe is selling his rig, you can check out some of his post and see how he repaired the cuddy deck
http://www.wellcraftv20.com/communit...ad.php?t=17644