That low of hrs could be a minor deterrant, but if it was maintained and stored properly it's really a non issue. If it was a '95 with 100hrs I'd say you run the risk of seals, etc being dried up, maybe developing leaks, but not an 05. Besides it's a Chevy 350 with a simple gear box. Not much to crap out on it other than the fuel pump which is a known problem and a cheap fix if your at all handy.
It would be very preferrable to water test, maybe a power plant lake that's open within driving distance, river?
Personally I'd use the no water test as a bargaining chip since if it's as pristine as it should be there won't be much to pick apart for hagling purposes. Just make sure you test everything, engine, ballast, put it in gear, etc. If at all worried it may have hit something, a quick check of the prop shaft with a dial indicator will tell you.
It's winter time, go for a great deal on it. If it doesn't pan out there will be 10x more boats for sale in a couple months.
'06 X2 MCX
"I understand why some people may not want to do this the way I have recommended but I can't understand the death grip some people have on a toilet plunger with a hose fitting." -JimN