New Guy, New Boat Purchase

I'm new to the V20 site, and I need some advice.

I'm going to be looking at a 1970 Wellcraft 20' center console with a 1992 Johnson 130 and a 2006 trailer next weekend
Mike, The owner, says the Transom is solid, motor was rebuilt a few years ago and runs strong with good compression.
The floors are said to be mostly solid, but it does have a few soft spots..
I want to use it strictly as a bay boat in Barnaget Bay instead of my 270 Amberjack for the remaining boating season, then try to address the floor issue if it's bad over the winter.

It's been for sale for over 4 months, so I'm pretty sure it must have some issues.
Mike, the owner says most of the negative comments have been about the year of the boat (1970)
The boat was listed for sale at $3600, but I offered $1500 to which he said he would think about it.
At least he didn't say no! ;)
I should also add that I've known Mike for over 30 years, so I'm sure if there were any major issues, he would tell me about them.
I've also been fishing with him on the boat, but not within the past year.

I have arranged for a sea trial next weekend
I also will bring a compression tester with me just to be sure

The major question is what it's worth if the transom is OK

Beside the transom and floors, anything else to check.

Thanks, Ron