Gene, basically there are 2 problems that crop up with generators that aren't exercised regularly. The first is mechanical. If today's ethanol gas is left sitting in the carb, it becomes gummed up necessitating a carb rebuild. The other is electrical and probably more important. Corrosion forms on the slip rings which is why it needs to be exercised with a load. This is expensive to repair. Few folks exercise their gennys properly. See how well it starts and runs, then test the output. If it passes these tests it should be OK but be aware of the way the genny was mistreated. Also, let the genny warm up a few minutes before you put a load on it.
Sorry it took so long to get back to you. Yesterday was a busy day.