HEY! I missed this thread three months ago!
I have a similar boat! The Soverel 28 is an excellent sailing boat, and you and I are the only ones I know who have the MORC II design. I am very jealous of your sails and your new rigging. I have the original diesel engine, and PERHAPS the original sails--or close to it.
You and your son are going to be very happy. If you have the Volvo Penta, see if you can find a local diesel wizard to help you get it going. Those are just tractor motors, and pretty darn near indestructible. I kind of doubt there WILL be soft spots, since there are no laminates--there is some heavy marine plywood under the deck and on the doghouse--but other than that you are looking at solid fiberglass. My boat has the original pegboard interior, a sore spot for my wife, but highly utile.
You should log onto the Soverel Yahoo group. It is pretty dead most of the time, but there are a good number of pictures of 28's and I have been putting together a database there of the active boats.
CONGRATULATIONS on getting a great deal!
1967 Soverel 28
He not busy being born is busy dying