So I ended up buying it after all. Several weeks after the estate sale, I was still thinking about this Puch- really like that it is a '74... so I drove past the old farm where the sale was, and saw all kinds of crap that hadn't been sold still laying there. Figured I'd leave a note in the mailbox saying I am interested in the Puch if it was still around. Didn't hear anything for a few weeks, then I got a call from the lady who lives there.
I ended picking it up and having a nice conversation with her. It was her dad's farm. He bought the Puch brand new for her, and it has been around ever since. It has about 1,700 mi. on the ODO.
Surprisingly, it has cleaned up nicely. I pulled off the cylinder, and removed the piston. Rings were basically glued in there, but I will get new ones.
Just thought I'd post a couple of fotos. Currently putting together a list of what I need to buy from Treatland or Myron's... Let me know what you think.