I would argue about "plenty", but there was moisture in there. There's a bit of surface rust on the gears but nothing to worry about. Water was in the crankcase, not the timing case. The water I poured out was pretty clean, so I'm assuming it wasn't in there for 30 years. My sister stored the bike in a horse trailer in a pasture for 3 months last year (Sept.-Dec.). They got some rain during that time so it could have gotten in then. I'll know the extent of the damage if any probably tomorrow when I spit the cases.