I picked up a 1962, knowing it has a "problem with the motor". I located a B18 with AQ100 that was running when removed a few months ago for $500. My question: Should I stick with the volvo drivetrain, or is there a good (modern) refit option? The hull appears solid and it is otherwise "all there".
If it has the B18 or B20 motor, that is probably your best bet. I would try running the motor first, see how it does. After running on hose for a bit, go ahead and do a compression test. I had two B18's that had bad pistons due to detonation damage. Probably cheap gas. I looked at going a mercruiser 3.0 route, but it wasn't even close to fitting. In the end I am glad I stuck with the volvo. It shifts nicer than an alpha for sure as I have those on another boat. The volvo just fits nicely and is pretty light. Not sure what else would even fit in the space of an AQ100 drive and B18 that would have parts available. I put electronic ignition on mine, works fine. good luck!