as far as the transom its being raised 5". it'll be damn near closed. if I sink another inch in the rear that mean still 4" higher than now.
I really don't want a smaller motor. a 130 4 cyl crossed my mind but I really like the torque and speed I get from my 150. pushes the boat awesomely.
from what I can see on the outside its pretty clean. he has owned it since new and takes great care of it. but I know the corrosion comes not from lack of maintenance from what I understand.