Mike,
The total cost is about $30.00 so far. I had to tear it down but not replace too much. I cleaned the hell out of everything and blew every line out that I could find. I rebuilt the carb and checked the points and they looked good. I put new gear oil in the lower unit and re-sealed it. I cleaned the gas tank out and pressure tested it, and I switched out the grease in the center unit. Hand sanded the entire thing and painted it. Impellar is kicking out water through the holes when running and the heads were so cool after running it for an hour I could touch them. This motor wieghs 35lbs w/o gas and runs great. If you can get your hands on one I strongly recommend it. You can even fold the lower unit up to fit it into tight spaces? I guess they just threw them in the trunk in the 60's. It was a riot to do and I think it is the perfect motor for my boat.