Well, I got it!

Everything looked good from the inspection. The rusty engine mount bolt was due to a drain plug above it that was put in without an o-ring and subsequently dripping down. Compression test great, drive fluids fine (no water) etc.
We took it out last weekend for a couple hours test drive/familiarization at our local lake. Runs great and I got the feel of trim adjustment pretty quickly. My reverse navigation needs a little work but coming along fine. My first loading when we were done was probably the best I'll ever do...up on and straight and just a small nudge into the front roller
I do have one issue to work out, that being losing a small (but consistent) amount of drive fluid into the hull. There is some oily residue in the hull which washes up into the ski locker that I have traced down to the drive reservoir bottle. The bottom of the bottle where the low level sensor screws on and/or the hose connection appears to have a small leak as that area was wet with lube. Planning on disassembling that later this week and doing some testing on integrity of the fittings, including the cap. From what I have seen, this appears to be a fairly common problem.
One thing I want which the boat didn't come with is a depth sounder. Just ordered a Faria in hull one today and will install in the non functional instrument slot on the left of the cluster.
Will get some pics up later this week (as soon as I take the covers off again).