K-341 engines are popular with the puller crowd here in Ohio. These engines vary in price but are not cheap. If you are going to use the engine, take it apart and rebuild it correctly. You won't regret spending the money to have a great engine. Kits are available and other parts like valve springs, starters, carbs, governor gears and the like are available. It IS a wonderful engine. Do it right!
IIRC, the engine blocks in most of the Ariens GT models share the same oil pan/base configuration as Cub Cadet. Share pics of this beast when you get it!