Norm (and Max's 6th point), you're probably right

Unfortunately I'm crazy enough to actually enjoy tinkering with this stuff.. but yeah, I need to draw the line somewhere.
Max,
1 I wondered that too, but the cover definitely says 6.75hp. pic attached. I've taken a quick look at the intek manual and going by pictures it's one of them.
2 Interesting point. What difference would this make in this application?
3 I've accounted for crank diameter and length, thankfully I got the part number of the 6.75 motor before buying it. It will work with the motor spaced up slightly. What I didn't check was the keyway size

4 Thanks, good point
5 That was my thought originally too. The motor I bought was advertised as running well, and was one of the few I could actually get a part number of before buying. This allowed me to look up the crank length/diameter.
I just partially disassembled the old 5hp motor. My theory about the piston expanding and seizing was right, the cylinder wall is junk. As expected, the bottom of the crank case was full of debris. What I find most interesting is that I can't see where this is from... the big end bearing was fine, which is what I'm used to seeing damaged with car engines. Some minor wear on the cam lobes. Perhaps it's all from the cylinder wall? Haven't pulled the crank yet. A couple of pictures attached for those that may be interested.