I wouldn't put her back together like that but then again we are surrounded by lots of cold water. I would feel safer with an overhaul. Never know what you're getting with a mid time used engine, of course bad overhauls happen too.

Anyway, that's a bummer. Good news is the O360 is a great engine and looks like you've got a good airframe there. Really like Piper. If they would have built all aluminum high wing models Cessna would be history.

Congrats on the new plane! Just recently joined the club too. Sorry to hear about the engine issue. Good for u for finding it now and not at a more "inopportune" time!