Engine rebuilt 7 years ago and never started. Is it still good?

[dawn_and_darrian]

Looks like I'm going to purchase a z600 with a rebuilt motor. It was rebuilt 6-7 years ago and it has never been started since then. My understanding is that it is in the car, so it has been protected from the elements, etc. It's in Arizona, so humidity and rust are not much of a problem.
Can you think of any obsticles I may encounter with this engine? Any advice? I've been told to put some oil in the cylinders and manually cranking it a few times by hand to get the oil around the pistons. Then I will let it sit for a few days to let the oil settle.
I'd love to hear any ideas that anyone has, or warning, etc. I guess there are a number of things that could be wrong after sitting for so long, but I'd like to hear what is likely to be wrong given this situation.
Matt