Goals: I'm trying to do this cheaply as possible. It only does tractor rides, shows, a couple plow days and piddle around home some, I can't see spending lots of unnecessary dollars on it for no more than it does.
At only 65 hours of use per year it won't take much to make it last a long long time. RRLund's suggestions would make it easily last for several more decades.
For peace of mind, while the engine is apart you could also check: the cam bearings; oil pump; crankshaft journals; and cam shaft lobes and then decide if any further repairs are justified. The distributor, carburetor and even the cylinder head are more accessible so they could easily be rebuilt anytime in the future if ever needed.
It would not hurt to do a compression test and a leak down test before tearing it down. They might give you even more peace of mind.
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