Boy Mark. The good news just keeps on coming (not!).
It makes me wonder how the guy that ferried your 150 ever made it all the way to your place! Our 150 has a little over 1,600 SMOH, and has had a few cylinder problems since (stuck valves!!), but if I sold it to someone, I would really feel bad if they then ran into the kind of problems you are having. It has been running fine, but I have no idea what it looks like inside. I hate this for you on your first airplane! What a bummer!