Here is another picture. I kind of see some rust of staining at the bottom of the transom under the outdrive. I was planning to do the compression test before the test drive, is that not the way to do it. Those plugs do look like they might be tough to get to.
You know, I was under the impression that a 3 L would be under powered so I was shooting for a 4.3 L. This one has a V8 so I figured all the better.
So back to the 3 liters, I sure do see a lot more of those for sale, we probably could find a newer one for a decent price. Your making me think....
A five bladed stainless prop on an Alpha One outdrive? I'd bet that thing has been run hard and put away wet more than once. Like you, I'm not too impressed with the rust stain. Take a moment to lay down under that outdrive with a flashlight and inspect the bilge drain. Is the wall of the hole sealed, or is it raw wood? Raw wood is going to soak up water like a sponge and you'll end up replacing the transom.
I imagine there are a lot of 3.0's for sale because there are a lot of 3.0's. I'd say the 18 foot bow rider is the quintessential entry level boat, and many entry level boaters are trying to minimize the purchase of a new boat. In my case, I ended up with a 3.0 because mine was a new left over and there were no 4.3L boats available. I know it was an option, but I don't know if they were really available and all bought up early on or not.
I can tell you this - I bought my 2002 with 3.0L brand new and while the engine has proven to be reliable and easy to care for, I always regretted not having a V6. That little four banger has to work hard to move that boat at any appreciable speed, which results in an awful lot of noise coming from the engine bay. I often worry that the engine is going to grenade in there.