Hi Carl,

Thank you for your response. The "crease" was actually a very very slight raised ridge, not a depression. It is very slight and hard to explain. And since I looked at it last thursday, I cannot recall exactly where it was, just that it was above, and I think to the rear, of the landing gear. (But it may have been forward and above the gear). It would be difficult to see it in a photo, but it is there. Imagine if you were to hand form a piece of aluminum over a stringer and you accidently pushed a bit too hard over the stringer, it would leave a slight "ridge" or crease. That is what I recall it looking like. It also was on both sides. I looked at four 150's at the local airport last sunday, and none of them had it. (I was actually hoping to see it on other aircraft). Everything else seems OK, and it just had an annual by a supposedly reputable mechanic (the one that revealed the 1977 damage history.) Peering in the gearbox area from above, with the seats removed, revealed no anomalies.
Now, if I was looking for the all-time 150 to keep for good, I would pass this one up. But I am looking for a ready to go runner with a decent engine, panel, and paint that won't make me embarassed when I pull up for my $100.00 breakfast. The seller, the aforementioned straight up guy and avionics shop owner, commented that the plane flew particularly smooth. He is selling it because he only flew it 17 hours in the past year, and owns a super nice Cherokee 6.
I guess my big concern is if this "flaw" makes this aircraft a "Don't touch it with a ten foot pole" type of thing, or would it be likened to the commonly seen small dings and dents often seen in aluminum skinned aircraft.

Thasnks again to all who have responded!

Charlie Rowlett