To everyone that offered their sage words of advice, thank you very much.
I went ahead and pulled the trigger. The old girl has a new home.
Pictures aren't exactly worth a thousand words, at least little CL post pics aren't.
She's been abused a bit, but seemingly where it counts, she's still sound.
Gear box checked out good. No pto input or blade output side movement. Pulled fill plug, she was low but clean oil with no water, had obvious signs of some leakage, but it seems like they all do eventually(at least of this grade build), used flashight to see that the vertically standing gear was bright and shiny with no bent or missing teeth, bolts holding down gear box were all tight and movement free, u-joints were greased(with old grease, but you could see ample evidence of over greasing), gear box spun up and down with out binding or making bad noises, haven't run it yet so don't know about smoothness factor yet, keep your fingers crossed.
Some former owner had hit at least 2 noticeable obstacles. There was a dime sized hole punched through right side skirt, and a definite obstruction trying to make it through ride side skirt in the taper portion. Ripped skirt partially from top deck. Who ever welded back was a hack. One 3pt lift arm was kind of mangled in some barn accident and poorly redone also. I have a welder and can redo repairs properly, in time.
Got seller to come down in price another $50, probaly could have gotten him down $75(gave $325 for everything), but it came with a new set of blades(in the box still, how much are blades anyway?), 2 used stump jumpers(little scared about that, what do you have to do to need to replace that item twice????), 3 used sets of blades(2 pretty trashed and tweaked), and another used tail wheel.
All and all, seemed like a good price to take a flyer on a used unit of medium duty. I usually am really only mowing grass and briars. Not 30 acres of saplings, that would kill it pronto.
To anyone who has actually taken the time to read my ramblings, thank you. You've all been a great help.