Great project and story!!! It has the original hydraulic pump, rear light, and it looks like wheel spacers on the back with some homemade weights or maybe that is the hub of the rim for offset. It just looks wider than normal from the picture of the rear end.
It could be that the reason the oirl in the engine looks so good is that it has settled over the years. I would still change it out anyway. Glad to see this 123 and loader are getting the attention it deserves!!!
Cub Cadet 123
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Still don't know what I'm doing in OHIO?.....If you find me, then please point me back toward INDIANA. 
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