Hi Bill,
These are great old boats. We have Betty Lou (#118, circa 1979, deep fin) down in Portland. If you're down this way before your trip to the virgins, feel free to come by for a visit. Can't hurt to see a sister ship or two for comparisons sake. You didn't mention your purchase price, but for comparison, there is a boat here
http://tinyurl.com/3qr6v46 that has just had a major refit listed at $74k. All the item Tom mentions are top of my list. Things that I have had to replace since buying Betty Lou from the original owner include:
new shaft (out of true and the end was rounded out at the prop end)
cutlass bearing
shaft coupling
motor mounts
120v wiring
potable water lines
Lots of other upgrades, of course, but those above are things to watch for at survey time. I've also heard some mention some oil-canning of the port side hull at the chainplates, but we don't see any on our boat. Our purchase survey also found a few issues with the shrouds, and the PO replaced all prior to sale. We also had a separate engine survey.
Good luck with the purchase,
Jay