OK, thought I responded, but see nothing here…
In any event, that is a mid 1980s commercial 40hp, it is stock from the factory ( except for the gearcase). You are exactly right, this is just an 70s style 40hp updated with CD ignition. Once again, this is how they came from the factory, no one updated/customized it…So, I’m thinking it should be fairly bullet proof with that ignition system. $150 does not seem unreasonable if you find the engine to be mechanically sound and you have a market for such an engine….