Good info, thanks everyone.
When you say "have the motor verified", what do you mean? Take it to a marina that sells that brand of motor and have them do the car equivalent of a "safety"?
On a related note, when someone says they have X number of hours on a motor, what would be considered a high mileage motor? In other words, are there any guidelines as to purchasing used motors, i.e. "I wouldn't touch a motor with more that XY hours on it."?