Yeah, I'm curious too, and will dig in this weekend and report back.
Did some searching and found a 235 nearby with 3speed that was plucked from a running 1950's sedan for $600... Looks like it has everything to make it go. Never bought a used engine before and the only things I can think of to check their health is pull the dipstick, pull the valve cover and maybe bring a battery and compression tester to see how it checks out? It has a foot starter, so it should be possible to connect the battery and turn it over, right?