You mentioned most of the things to look at. The transom COULD be okay. See how many things are screwed or bolted through it. Everyone of these more than likely lets water in. Sticks 69 CC's transom looked surprisingly good for original. Lift up and down on the outboard to see if the transom flexes at all. If the deck feels good, leave it for now and save up to do it in the future. Check the cap for soft spots too. I will be raising the transom up to 25 inches vice the stock 20 inches to help less water come over the stern while drifting or in a following sea. Where are you located, these Seacraft nuts on here are everywhere and for the most part willing to help look over a boat if they are available. The definition of major fiberglass work differs with everyone, so if a transom is major fiberglass work you may want to look at boats less than 39 years old. Post up some pictures if you can. We love pics and they can help identify some issues.
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