New Owner 1977 V20 I/O

[v20munch]

Became the proud but somewhat worried owner of a 1977 V20 I/O this weekend. In boat years I think it is older than I am, but
that's ok it has great character and I love the look of it.

Had looked at this site before and you'll (yes Texas) were very helpful.

Had a few questions (well to start with):
1) Should I have any worries putting this old of a boat on a lift with
'slings'?

2) Seems like my research indicates that if the styro-foam(SP) get's wet
under the deck you are looking at soft spots developing in the deck?
Don't feel any now, but how do you know if this could be a problem?

3) Any other advice on checking things for a new boat owner besides the criminal record of the prior owner (just kidding, is a nice guy which my wife knew before 01020001041201160320080304fd8df0623626e7670a005314.jpgthe transaction.

Will try to post some pics, but only have one at this point. Hull is in pretty good shape. Motor runs good. Checked it out on the lake. Was used in 'salt' which I know is a concern, but mechanic (prior owner used) says there was no indication of problems and owner did not use but four times a year and cleaned regularlly. Boat has always been stored inside.

Thanks for any help you can provide.