Was it freshened b Checkered Flag?.....Some people's ideas of "freshening up" a engine is running a hone down the cylinder. That's the thing you don't know. Some people will tell you anything to sell you something.
I agree with you 100 % that is why I suggested
Call checkered flag
Have a local builder look the engine over
Or just run it a see what happens.
If it were me, I would call Checkered flag and give them the name of the origional owner. or just send them the engine.
I bought a limited modified flathead from a person, who described it this way.
"I bought this engine from a guy that was quitting racing due to health.
It appears to be Tod Miller engine, I looked inside and is clean as new.
Strictly a high end engine with lots of high end parts." Direct quote!
When i opened it up, the piston had rings had rusted to the cylinder wall and just been broken free, Crank was worn beyond repair. carb was trash and not the right one for the intake, One lobe the intake lobe on cam was worn down to almost nothing. Lucky That I paid with pay pal and checked purchase good or services and got my money back. The other person did not even want the engine back.
So, Call checkered flag, get another builder to look at it, or just run it. Unless you want to tear it down yourself. I can't think of any other options.