Congratulations. If I planned to keep a boat on the water, I'd own a Marlin.
When it comes to wiring, I hate chasing the intermittent issues. I pulled all wiring out of my Seafarer and started over with a marine circuit panel with breakers and ran power to it from batteries. It was a huge improvement over fuses everywhere. Not that I'm saying you need to go that extreme with a do-over, but I love knowing it's all new. I pulled some "green" wiring, connectors, etc out. Not sure how the previous owner put up with it. I purchased new switches and added several from New Wire Marine. They did an excellent job for me.
It boils down to how deep you want to dive into restoring the boat. I made up my mind I was going to hammer on the boat during a winter and get everything mission critical done. Last summer I launched and had a ball. No problems. This winter I've been working on all the "nice" things like trim work, paint, gelcoat, new striping and GW logos, and a boat name. Getting closer to being done!
I hope you share some pictures of this new to you beast. Here is a link to some of my videos:
https://www.youtube.com/playlist?list=PLKY3HuZDoWwR_iSbBmZmWEkSuhFlgBwjb
My boat is a 1984 model. Here she is:
