Certainly $400 is a major bargain for that engine, perhap more like half price if even that!
In the later years of Sipp production, they were often sold as casting sets, more as machining projects for novice and expert alike, perhaps more so than finished engines intended for actual work. Yours does appear to have some slightly different features, and I especially like the beefier spokes on that flywheel. Could have been an aftermarket replacement for a damaged original, or just an option at time of purchase.
Major Congratulations on what is very obviously a great score ... and welcome to the Forum!!!