I found some nice video's on youtube, the information you provided is great, thanks alot.
Someone told me that I can inspect some parts of the engine thru the intake and exhaust openings. I do feel comfortable stripping the engine but i heard its better not to open it it if not needed.
I will clean out the carbs this weekend, I should be able to tell if the engine was fogged (preserved), if so then I will try to crank it up after ensuring that the fuel lines and fuel system are clean, the spark plugs and gear oil are changed.
As you said before, I dont think these engines will rust that easy like the 582, and would just a little rust be very harmful if its on the crankshaft? can I tell when its running?
The engine has been inside a hangar with other airplanes for the last 3 years, not exposed to the weather.
Zack