You and I have a similar situation. I bought a second M (1950, both of 'em) just so I could end up with one M with all the goodies (loader, etc.).
I'm no mechanic, and having a second M gives me something to compare side-by-side when I'm trying to figure out how something should fit or how it should "sound."
If everything runs, you didn't get hurt at all at $1,000. Here in Michigan I paid $1200 and $1400 for two pretty clean good runnin' tractors, the second one with a working front blade/loader. I'm ready for the snow.
The only bad thing is my wife says I must get rid of one of the Ms!