Think I would find the ends of the switch leads and do a simple continuity test -- see if the kill switch is working (should see continuity with the clip out, no continuity with the clip in place). Agree that the price of replacement is ridiculous, although might be able to find one on eBay. Alternatively, maybe you could substitute a horn button or something similar -- might fit in the bracket for the factory switch.
If those plugs in your picture are from the motor, appears one is running hot, or maybe one is rich/cold. Think it might be good in any case to check spark and compression -- need an adjustable spark tester to check both the existence of and quality of spark. I have a '90 with that under flywheel ignition, and it's working fine to date. The UFI power pack is more subject to overheating, though, so wise to check spark.
In addition, after a 10 year layup will want to replace the impeller.