Saving Old Seagulls

That green paint looks awfully like Zinc Chromate primer.

If Ricks right & it's a Mk3, that would make it very late 50's.

The top main bearing on those is a needle roller I believe, & prone to corrosion if left standing for long periods, might be worth a look.

Dead right about the needle roller - I had one where the rollers had corroded and caused a corrugation on the crank from sitting, effectively scrapping it.

The paint on the one in question is a relatively recent blow-over. I had several Pilots, no two having the same colour - eg. green all over( deep bottle green), blue/white, grey/white, black/white - I assumed Anzani was next door to a paint factory and bought their end-of-lines!
If in trying to get the motor running an it doesn't pump water, the most likely cause is the rubber pump 'doughnut' behind a plate immediately behind the propellor, which 'freezes', but can be got going by massaging under a running hot water tap, and lubricated with a silicon lube.

Not sure how I know this is a MK 3 - I either had one labelled MK 3, or via handbooks I have. Great little motors on the right sized boat - compare very favourably with a 40 Plus!