1970 Merc 110

I have just taken possession of my father's 1970 Mercury 110 (9.8 hp) outboard. It was stored in a shed in the early to mid 1980's and has not been run since. Just before he put it up he put a new impeller in it smeared with petroleum jelly. When it was put up it was in running order.

When I got it home the other day I took off the top and noticed that the insulation on most of the wires was crumbling off and the wires themselves were falling apart. I realized with one look that it would most likely not start because of this. Aside from that, the inside looks good. I have heard that these are good engines worth having...

Is this worth messing with? Can this be fixed by someone with moderate mechanical skills? Would it cost a fortune to fix? What would some of you do with it?

Re wire it.Put a little oil in each cylinder & turn it over a few times.Not a big deal to rewire.Most likely the impeller is shot also.Check the lower unit oil.Make sure both cylinders have spark.Good little motor.