Even though you probably WILL have to rebuild the carb, I wouldn't have that done until you know know for sure. if it was stored dry, it could be perfectly fine.
Have you tried cranking the engine at all? By hand?
I'd pull each plug and put a little oil in each cylinder, just for good measure.
Assuming it's not stuck - I'd pull the valve cover and just watch everything as you (or someone else) hand cranks it (be sure it can't start). Just to be sure no valves are stuck open.
While you're in there, might as well pour a little oil over the whole valve train.
I would also go under the assumption that the clutch plate is stuck to the flywheel. Make sure you're in neutral when starting, and if it starts and the gears are grinding when trying to get into gear, don't force the issue till you fix the clutch.
Draining the tank is a given, but also drain the bowl on the carb. If you're lucky, the previous owner did that when they put the tractor away.
I wouldn't toss all the gas, it's too expensive. Just mix it with fresh stuff and it should still be ok, but only after you've got everything running well.
Also - since you're draining the tank - do it from the carb end of the gas line - and while you've got it apart, check the screen in the carb inlet fitting. It's a good time to get any crud out of that.
You should also clean up the points - a little 400 grit sandpaper to shine them up.
I'm sure I'm forgetting other little details - but I think you'll be fine. Those engines are so forgiving it'd probably fire right up on the first crank without doing anything to it.
This post was edited by JRSutton at 07:15:24 11/25/11.
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Today's Featured Article - Case Farm Equipment - by Jeremy Sweeten. My name is Jeremy Sweeten and I am currently a junior at Purdue University. I am takin a dual major in Agriculture Systems Management and Agronomy. I am from North Central Indiana, Miami County to be exact. My dad teaches for Marion Community School Systems an outdoor lab called Asherwood. We live there to manage the place. They just happen to have a Case 311 with a Triple Range transmission. I grew up mowing, pushing snow, and hauling maple sap with it. In 1986 my parents bought an old,
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