I have had this engine / saildrive combo in 2 boats.
First it is either a MD2 or Md11.
These engines are very similar but different,
The Md11 is more recent with replacable ( I think you say wet liners in English) These are replacable and if the engine is rebuilt I would personally replace them. It says cylinders rebored , this is an operation that relates to the MD2b
that has not got the replacable wet liners..
I guess the best thing would be to ask for the invoice etc from the guy that did the job on the engine to get a real grip on what was really done.
In my opinion you do not wear these engines out, they get problems from internal corosion / blocking. This problem is less pronounced if fresh water cooled or properly serviced at layup
in sweet water and then fogging oil.
I would recommend that you ask if the engine was properly cleaned internally when it sounds like they stripped it.
bend where the saltwater is injected into the muffler
needs replacing every 10 years since it is made from cast iron and corrode. ( many are remade in SS at a rather low cost).
The bearing replacement is something I have never heard of on these engines and I do not think Volvo ever included any low end bearings in the rebuild
there are spare parts easily available and at prices that are really low
The S110 saildrive should really not be a problem if the Zinc has been changed every year and the boat has not had a problem with leak current
One thing to look for is the rubber seal for the S drive , it shall be changed every 7 years and even if it is not too difficult it might be a thing easily postponed to another year...This is not good since the boat floats on this rubber collar.
The pros with the saildrive is more quiet running with less vibrations and of course no dripping stuffing box.
I quite like this old slow reving ( 2500 rpm
max) long stroke work horse that I find easy to work on and generally a simple good engine.
The Saildrive ( internally ) is not a DIY project if you are not an advanced mechanic
The original folding propeller
( cast iron ) does not give the best effect when in reverse.
We used a fixed propeller
on the first boat and uppgraded to the current
VP skewed three bladed bronze prop on the second boat. ( not cheap
but worked really nice with performance comparable to a fixed prop.)