Re: oil 2 cycle oil
My Merc manual starts with '94 and "after" so it says. In there it mentions that oil should be rated TCW-II. If that helps. Yes, I realize that III is out now and superior to it and you can't buy II anylonger, and why would you want to?
Agree on age of oil in the ground.
Agree that refining doesn't reduce it's lubricity over time if kept in a sealed container to keep out dirt and moisture. Unlike gasoline, it has no violatile hydrocarbons to evaporate that I know of.
Agree that additives will settle over time, but a good shaking, like most liquid products recommend before, use will easily fix that. I've had oils sit on the shelf for less than a year and noticed settling.
Older engine, no reason not to use the oil that was used in it when it was a pup. Oils just get better with time due to engine specs (requirements on lube) and lubrication technology. One thing I know they improved, over the 30W engine oil they used in the 50's was a lower viscosity oil to help in cold weather mixing.
Enjoy,
Mark