Lots of folks with old boats rip out the Atomics and replace them with
outboards. It gives back some stowage and is a cheap alternative if you
like to sail. Of course if you are a motor cruiser or you intend to
venture away from the coast the outboard option is less feasible. If
it's a free boat in good shape, I'd check out the various options. It
is a classic boat.

Yes, lots of people do this. Why not?

The boat is now 4 feet longer. That will cost you about $450 a year
more. EVERY YEAR. It may require a longer slip.

The boats designed as outboard models are quite different from the
inboard models. The outboard model that was designed so that the
outboard controls are accessable. They are not accessable on an
outboard bracket.

I watch people going out all the time who have no control of their
outboard. An accident waiting to happen.

Starting the engine on a bracket is a pain, the engine can get dunked in
a swell. A Vangard, with the overhang, just makes this aspect worse.

Is the transom strong enough for a bracket? You can't just bold a
bracket on any transom. Even though you see many done this way.

No, you can't "rip out the inboard and replace it with an outboard."
Even though there are many examples.