Thumbs up to all that was said. Every manufacturer will produce good and bad engines...just depends on which one you get off the line.
If the engines been around that long...all the bugs should be worked out...and it should be in good shape if taken care of.
As said before...do a compression check....(10% + or -) per cylinder difference...if possible do a leakdown test. If you do both of those you will the information you need on the engine...the leakdown test is actually a better test and will show you more than simply the compression.
I figure its probably fine...but then again...better safe than sorry.
"But if serving the Lord seems undesirable to you, then choose for yourselves this day whom you will serve, whether the gods your ancestors served beyond the Euphrates, or the gods of the Amorites, in whose land you are living. But as for me and my household, we will serve the Lord.” Joshua 25:15