1971 Merc 500 50 Hp Wiring

[angelo3658]

I'm new to the forum and hope that I'm posting in the right place. I purchased a 1971 Fleetwind bowrider with a 1971 Merc 500, ser # 3097453. The motor starts fine but I don't want to run it for long because a lot of the wiring insulation is crumbling off and I'm worried about shorting something out. How difficult would it be to rewire for a novice. I have some mechanical skills but can't figure out how to remove the front cage to get to most of the wiring. Any help would be greatly appreciated. Thanks.