Scatterbrain,
As Gunnut69 notes, most old 742's should be related to the scrap heap. The modification to be a pump should only be done if the bolt and receiver and receiver rails are otherwise sound and not worn out. Even then only a professional gunsmith who knows what he is doing should attempt this modification. When you mess with the diconnector you can allow the gun to fire with the bolt not fully closed as noted. Many gunsmiths refuse to work on these guns feeling that they are a liability which is the stance the Remington Factory takes but will not admit.
Less than good design, some parts cheaply made, better to spend money and time on a better investment, this is kind of like buying a car at the local metal salvage yard and refurbishing it to operate like new. A pig in a poke to be avoided.