G'day Grumpy, it doesn't look like a synco balance engine. The valves look good, my old man would have cut the valves and seats last rebuild (we have a W&B valve refacer and seat cutting tools). They are a little worn in the guides but it runs OK. It was bought new in 1981 and cut 1/2 acre of grass for 25 years on a weekly basis. The frame is a little worse for wear but the engine is still strong. Only needs a new seal, it was leaking over the belts and has buggered them
cheers
matt