on the fly, If it were me, I'd either completely re-do and raise the transom 5" or enclose it totally and go with a bracket. Don't think I'd want to hang a new heavy 4 stroke on a 32 year old transom.
It's very pricey to have your transom professionally redone. If your handy and have the tools it can be done yourself.
Search the forums and find out all the info BEFORE you start, there's a ton of info out there.
Search these sites, you will see great writeups w/pics of complete transom re-do's
Try:
http://classicmako.com/forum/forum.asp?FORUM_ID=3
and
http://forum.classicseacraft.com/pos...amp;Board=UBB3