I think that you have some really good answers here . I have run into this same thing a time or two before, even when I pick up a running 35 year old machine, there is too many unknowns . I want a reliable machine every time I get on it, don't like getting stranded, and too old to push a 500lbs machine back home. I have a strict policy , tear it down- clean the rust out of the gears,bearings,and oil ports, clean the oil pump so there is no junk floating around, get new gaskets for everything case related especially shifter rod ,they always leak and are not included in the gasket kit usually. This will also give you a chance to check the condition of your clutch and kick start action. I always get a new timing chain and check the main drive chain before it's apart , quick hone ,a new set of rings will do you right. No skimping now, reseat your valves, check the springs and before you do the valves...very important , especially on an unfamiliar engine, be sure that the former owner didn't strip out the spark plug threads! This happened to me last year, forgot to check,got to do it twice , can do it in the cradle on a 550, it'd be allot harder on the 750. I know this is long winded, you wouldn't be asking everyone if you should be riding around on 35 year old tires would you? It's kinda the same to me, it just seems that you owe yourself the best ride possible,with no regrets. Of course it's your choice, I' just sayin.