I owned a 1977 PY23 for several years. It was our "starter sailboat" and got my wife hooked on sailboats so much that she wanted a bigger one . . . our only reason for selling our PY23. I would buy another without hesitation. As a previous poster mentioned, it is a good-looking boat. It has about as nice an interior layout and use of space as you'll find in a reasonably-priced boat of that size and it's built pretty well, so even "bringing one back from considerable neglect is feasible. But at least from the looks of the boat in your pictures, this one appears to be in pretty good shape.
About 900 PY23's were built between 1973 and 1981. They were available as keel/centerboard or fixed keel versions. The 73 and 74 models were built in Mahone Bay, Nova Scotia and the 75 to 81 models were built by AMF in CT. The early, Canadian-built boats had wooden toerails, gold-colored anodized spars, and no anchor well built into the foredeck. The AMF-built boats have a slotted aluminum toerail, black spars, and a covered anchor well built into the foredeck. Otherwise, they are basically identical.
You are looking at a later model (1975-81) keel/centerboard version.
The single axle trailer will do fine if it is otherwise in good shape and has some sort of keel-guide/support built into it.
There is a tremendous amount of information (including downloadable owner's manuals) and support on the Paceship Owner's Website www.paceship.org
1973 Paceship Chance 32/28 "Westwind"