Picked this up cheap on eBay. Took the seller forever to ship. Looked like it had been dropped in a lake. Worst part was the pump was plumb full of rust scale. Had to use a brake cylinder hone to clean up the cylinder. Check valve leaks more than I would like but not horrible. Tried soaking in lacquer thinner but no go. May clear up with use. Surprised it fired right up after I cleaned up the pump. Didn't have to touch any thing else.
It looks far better than how you describe it. With bit of use it, like you say, may come good ! PS my 220K was like new - and I ended up replacing the check valve after trying all the usual tricks..
It doesn't look to bad. I don't think it was in the water too long but there was sediment marks on the globe at an angle. Looked like they fished it out and laid it in the bottom of a boat to dry. Would have been nice if they had dried out the pump as well.