Hi Andy,
The age of the engine is OK for a rebuild. The biggest issue you'll find with some of these vintage Yanmars is certain parts are becoming more difficult/costly to find. I believe you can get everything needed to rebuild one currently. I had a similar vintage 2QM15 in Emerald, which I only replaced with a 3GM30 in search for much needed power (the Independence 31 is 11,400 lbs). Especially if you are not doing your own work, switching engines is going to drive your cost up considerably - not only will mounts have to be redone, but usually prop shaft length, and if your torque/hp and RPM limits aren't the same, a new/reworked propeller as well. The 3GM30 is a close foot print and easy conversion from the 2QM15, and with all that going for it, there was still a bit of work involved. It should be far cheaper to find someone good to pull and rebuild what you have, if it really needs it. Does the current engine have any issues, or are you just being proactive due to age and general unknown history?