The boat has the original engine 351w, installed in 1988 and only has 449 hours. boat sat in storage for 15 years. My worries is that sat to long and slowly it will crap out piece by piece. Replaced starter and steering cable
Just because it sat for 15 years doesn't mean that everything is ready for the bone yard. Yes, stuff will happen. That's a part of owning a boat. They're pretty amazing machines considering that they're constantly loaded as soon as you put them in gear but at the same time they're extremely simple unlike trying to work on an auto or truck.
After sitting that long, the oil pressure that you have should be the least of your concerns. If it runs, don't even think about chasing internal engine ghosts.
Stuff like the starter, alternator, cables and wiring are things that I would probably assume will need replacing or rebuilding. Do a good tune up (cap, rotor, condenser, plugs, plug wires). That would eliminate the ignition as any potential starting, missing or poor running conditions present themselves. A carb rebuild wouldn't be out of the question but if it runs as good as you say, I wouldn't worry about it now. Change all fluids including tranny. Make sure that you change the raw water pump impeller NOW unless you've already done that. If that thing frags on you, then you could end up with real engine problems after it overheats.
The trailer bearings you mentioned I would also consider standard replacement items after sitting that long. Not to worry.
Run the old girl and get a feel for her. You said she runs good. Enjoy it with your family. As long as you've done the basics above take each issue that comes about with a grain of salt. Stuff will happen but the good times enjoyed with your family far outweigh a little hiccup along the way.