Water pump, gear lube, zincs, check to see if it has the white or black thermostats in it, make sure they're the black ones, replace the vernatherms at the minumum, but if they're very old it doesn't hurt to do the whole thermostat and housing assembly, thermostat diaphrams, replace all the lines that run from the thermostat housi,g up to the throttle diverter valve and the supply and vent hoses for the valve, replace the seal in the valve(when they leak, it showers the under side of the cowling with pressurized water, check your throttle linkage to make sure it's good and free, check the link and sync for the carb and timing linkage, check the timing(NO MORE THAN 18 DEGREES ADVANCED, unless you like burning up your outboard), make sure the airbox is installed with the baffle plate, and that it is pulled down snug so air can't get sucked around it(this can lean it out, and burn a piston QUICK), run champion plugs, and I prefer the ql77yc4 plugs. The manual calls for ql78yc, but I always had problems with them fouling at idle without oil injection.