Oil canning, 1986 Irwin 35.5 citation

Nov 12, 2014
Jeanneau 42 Northport
Hello sailors and thanks for the help in advance.

Here is my most recent dilemma, "oil canning."
I am in the middle of purchasing a 1986 Irwin 35.5 citation, from her original owner. It seems to be a fine boat and I believe it will suite me well as a coastal cruiser / live aboard.

However, my surveyor failed to pick up on some slight oil canning at the mid way point of the vessel directly aligned with the stringers for the shroud chain plates. It seems as though the shrouds have pulled the hull inward, starboard and port. These dimples are approximately 2' high by 1' wide.
Should I run!? Or is this not the end of the world.

The surveyor did make the following reconditions:
1) Ruder is loose / needs repair: After looking into this more it seems as though the shaft is worn out and the plastic roller bushings are visible from bellow. There is also play at the top and bottom of the shaft. (?Thoughts/Recommendations ?)
2) Change the rigging (steel cabled) because they are over 12 years old. (is this true?)
3) Replace the stuffing and cutlas bearing. (Recommendations)
4) Replace all the running lines due to age. (Recommendations)

With this being said what are your thoughts.
Also does anyone has experience with the 35.5 citation, how does she sail?
There is very little talk of this boat on the web.