[Destroyer]

Ok, first things first. Welcome to the site. Lots of VERY smart people here in a variety of disciplines.

It's impossible for any of us to actually know what shape your transom is in, simply because we cannot be there, so you're going to have to make that decision. However, there are a few tests you can do that will give you a good indication of it's integrity. (First, a comment and an observation... Your transom is made like a sandwich. an outer layer of fiberglass, then wood, then another layer of fiberglass. The fiberglass provides a seal to keeps the wood from getting wet, along with "some' structural integrity. The Wood provided the strength to hold the engine and the force being applied to the hull by that engine as it pushed the boat along. That cracked aluminum cap MUST be replaced. It's allowed water to soak the wood underneath, which in turn can and will lead to rotting of the wood fibers, which leads to a weakening of your transom. Most people, when repairing the transom, replace the aluminum cap with fiberglass, both for strength and sealing).

Now, as Squidder said, you can tap on the transom with a nylon hammer. The difference in the sound of solid (hard) wood underneath and rotted (soft) wood is distinctive. A ringing sound = hard, a muffled sound = soft. Check near the top and anyplace there may have been a hole drilled into the transom (to mount a transducer, ladder, engine, etc. These are the places that most ofter allow water into the wood.
Next, tilt the engine all the way up, then while standing on the ground, push down on the engine by the propellor and at the same time especially look at the transom where the engine is mounted and at the transom in general. If it flexed when you pushed down that's not good. It should be rock solid.
Finally, get a drill and anyplace that you think sounded bad when you did the tap test, drill a small hole (1/8" or so) into the transom and look at the wood chips that came out when you retracted the drill bit. Are they dry? that's good. If they are wet and soggy or dry and spongy that's bad. Be sure to seal the holes you drill with 3M Brand 5200 sealant (Available at Lowe's and Home Depot) USE NO OTHER SEALANT.. this stuff has stood the test of time for boaters and is unique in that it actually works like it says it will. (It's good to have this stuff around a boat. ALWAYS use it whenever you drill a hole in the transom. and if you are putting a screw into that hole be sure to coat the screw threads and the hole with 5200 before you put the screw in. Any time you drill a hole it's always a good idea to seal the edges or the entire hole afterward with 5200. Wear gloves...the stuff gets everywhere... Remove uncured with mineral spirits or acetone. Dried can be removed with a razor blade).

So there you have it. 3 steps you can do to test a transom... Tap, Push and Drill.

The actual repair of the transom, while a pain, is really not that hard. Just time consuming and messy.

Now, as to the rest of the boat, just walk around the cockpit. Does the deck (floor) feel solid or soft under your weight? If it's soft then you may have stringer damage under the floor and we can address repairs for that also. If it's hard then great, you're ok.

You need to get that front edge repaired before you put the boat into the water. Buy a fiberglass repair kit, follow the directions, a little sanding, a little paint and you're done... but you NEED to seal the fiberglass so water doesn't get in there and cause possible delamination. (Water soaks the glass... winter comes, the water freezes and expands... viola.. delamination).

Best of luck with the boat, she looks great and with proper care will give you countless hours of fun on the water. She's one of the best (if not the best) hull designs ever made for her size.