well, kind of responding to your specific questions as they come up -- assume you want to try out the Duracraft hull you discussed in an earlier thread or two.
If the motor will run out OK in a barrel, it should work fine on the boat for a test run. To kick it up a level, though, a stored motor normally needs some basic prepping. You've had a look at the l.u. oil, and got her running a bit. That motor doesn't have a tell tale -- sprays circulated water out of the exhaust port on the back of the leg. If any question about cooling, first step is to take off the lower unit and change out the impeller (water pump), as they deteriorate and can break up -- which you don't want. Better part of wisdom is to just get a replacement impeller and install it, then try it again in the barrel. See if you can get it to run reasonably smoothly (fresh gas/oil), and let it idle for a while. If cooling correctly, could boat test it at that point with a little more confidence. (Running in the barrel without the hood, check the surface temp on the top of the head with the heel of your hand -- if too hot to touch, shut it down. You should be able to hold your hand there for a few seconds --130 to 140 degrees or thereabouts, when at operating temp.) But assuming you've managed to get it running well enough to putter around some, you should be good to go for a bit.
Next step would be to check out the magneto (coils break down, and points need to be cleaned and reset -- or replaced. I normally replace the condensers too, along with plug wires. Also consider rebuilding the carburetor, particularly if some rough running or stalling. You may need some fuel pump work, and good to replace fuel lines. At that point, the motor is pretty much rehabbed -- which gets you back to the gearcase issue, if appropriate.
So likely more to it, but on the other hand want to get out and see if the rig works..... And next season, should be ready to go.
edit. got long winded -- sorry. See it's been only a year since run, so probably being too cautious (above).
