To me, what you have done is taken a potential bomb out of the hands of a dire idiot. Well done.
Steam is not to be treated lightly, but if looked after and treated with care (unlike this one) they are totally safe.
You have chosen a good classic there, and if you do the restoration correctly, you will never know it had ever been in the hands of someone who knew nothing about them, and will give you many years of pleasure.
Really, the only problem with the engine you are liable to come across, is where the conrods exit from the bottom of the cylinders, this area is prone to wear, as it takes all the forces of the engine thru it, and because there is no stuffing gland, it is liable to weep a little steam out of it. Nothing to really worry about, unless it is excessive, then it is just a matter of knocking up a couple of new ones out of bronze. I never had to do it to mine, but I have done the repair to others that were run without good lubrication. The piston rings take a couple of hours to bed new ones in, but once done, and again good lubrication, they should last a good couple of years, if not longer.
I am sure it will look like new by the time you have given it a bit of TLC.
Nice one.
John