Same here. I've had it almost 20 years. Very few repairs to the drive and transom mount. I bought the special OMC tools to set up the shift cable and taught myself to do it in an afternoon. It shifts very well and has been very little trouble.
I did do a top end overhaul on the 4.3 V6 4 years ago but that was caused by a bad overheat 3 years before then. As it turned out it was just as well because the cooling passages in the cyl heads were getting thin and could have caused HG leaks or even a hydrolock if they rusted though all the way (salt water use). So based on this in my use a raw water cooled cast iron inboard is good for approx 15-20 years of use. After that, replacing the original cyl heads with a reman set will give the old engine a new lease on life, the blocks rarely if ever rust though here.
Yeah, this boat has spent its life in fresh water so that makes a big difference. It's in really top condition for a 34 year old boat, and clearly someone has given it a (mechanical) refresh once before too. In fact I think that's why it sat for a number of years. When I opened up the motor I found YEARS worth of sludge in the bottom of the oil pan, but then to the other extreme, there were BRAND NEW main bearings, rod bearings, and rings!?! They had maybe 20 miles on them. But when I put the heads back on after inspection and did a quick hand compression test, the number one cylinder had ZERO psi. Opened it back up again and found the number one intake valve slightly bent. Checked the top of the piston, and sure enough, the ole' tell-tale mark on the top of the piston (intake valve hitting the piston).
I think what happened was that someone else tried a rebuild on the motor, got the valve timing marks wrong, spun it by hand, bent the valve, corrected the timing, but then didn't realize that the valve was bent. Got it all together back in the boat... boat in the water... and it ran like crap! He probably got frustrated at that point... stuck the boat in the back yard and moved onto other projects.