New engines ‘work’ the same way old engines do, but tons of design advancements have been made to the point that major engine repairs basically only happen in warranty (ie ‘it either breaks right away or it lasts forever). But things like cylinders going egg shaped, getting ridges, chunking etc are mostly things of the past.In the car world anyway. Not sure how many advancements have happened in the small engine world.
Ive removed balance shafts from a car engine and not found it objectionable UNTIL i also tried solid engine mounts. 😵 Lots of garden tractors have solidly mounted engines to begin with so take that as you will.
Cool project and family heirloom!