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99 GTX Limited. $1200 too much to pay for one with a blown top end?

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c good

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Hi All:
Local gentleman is selling a '99 GTX that needs a new top end. It has 110 hours on it and is in overall excellent condition. Some minor gelcoat scratches, some keel wear but pretty nice in general. He has the head and cylinders off and just the one cylinder had some scoring. I had a local machine shop that specializes in Seadoo's, two-strokes, 4 strokes,... etc look at it and he said that it would clean up by boring one or two sizes over. Everything else seems good. No trailer. I'm fairly mechanical (have been building motorcycle engines, 2 stroke, 4 strokes, and car engines as a hobby since I was a kid (I'm 52 now) so I can do the wrench work myself. What do you all think? Thanks for any input. c good

P.S. How do I know if this is a 1st Generation or 2nd Generation engine?
 
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If its got a trailer and cover it would be an awesome deal. If not its maybe a little high in price.
 
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