Mike - Thanks for the figures from your machine work. Puts me at ease that maybe it won't be terribly expensive to get the work done to the motor.
As for the red paint... it's easiest to see on the motor. The red isn't everywhere on the block, but it covers at least 85% of the motor. The rest of the tractor has the same red paint hiding under the yellow coat that you see. This is the order of colors found thus far:
Bare metal -> Stock IH Cub Yellow -> "THE" Red -> Lighter shade of Yellow
It isn't a primer as far as I can tell, so who knows what the deal is here. I was more concerned with the color for what young enthusiest said, that it may be a motor off a Wheel Horse. I want to put the correct parts in/on the motor so it works correctly for my Cub. I don't know if there is a difference between a Wheel horse motor & an IH motor.
As far a picking a shop to do the machine work, as newbie as it sounds, is there anything in particular I should look for? Any specific questions I should ask?
Thanks everyone for the help so far.