Rob,
I just went through a pitot static check on my bird. (And yes, I am staying on topic.) The mechanics found that the plumbing leaked, and that one of the instruments was also leaking (the ASI).
From what they have told me, there is a real possibility that a number of the instruments in this plane may have deteriorated over the long period of idleness. Seals may leak, and electronics may have failed.
The plane needs a real thourough examination. Does the FAA consider it airworthy? Not an academic question. Haas this bird been out of annual so long that the FAA considers it a lawn orniment? It will take some good solid cash to return it to an FAA approved airworthy state (provided everything is working as advertised).
Also, Contintal has a time limit on an overhaul. (someone may have mentioned this.) This may not be an issue, but a good A&P can help you with this.
Good luck.
