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Hello We paid around 350 for ours. yes it is a reasonable price because my dad and have looked at others and found a arange between 300 - 800. The reason why the owner is charging you in the 300 range is because it needs restoring. After you restor it to it's ORIGINAL CONDITION then you could sell it between 600 - 800. To get the missing parts my suggestion is to go to these hit and miss engine shows. Between a govener and hit and miss no one is easier than the other. There just different. Mine is the same HP as your it ways aproximantly 400 - 500 pounds. yes you do need a block and tackle. What we used was a hook with a crank set it on wheels and cranket it up on th the truck. You will need the same hook tie to a beem or something so you can lift the engine of the ground durring restoration. Trust me we thought we could do with out it boy were we rong. The hook is on a long cable and it has a crank hadle on it and relice lever. It will trun out to be the most usful tool you have for that engine. Good Luck, David
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