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Good advice so far. Galvanized metal on the shredder if you aren't going to put it under a shed. Otherwise that deck will go a lot faster than you think.
So true, although I'll admit that I haven't run across many shredders that have galvanized decks, but that would be a damn nice feature.
If possible, try to keep your tractor and shredder under cover, and always brush the dead grass off the deck before you put it up. That grass will trap moisture and will accelerate the deck rusting out, particularly since most shredders that I've seen don't have 'space age' paint jobs on them. You'll see new ones for sale that are already showing signs of rust just from sitting outdoors waiting to be sold.
Get a cheap grease gun and keep the U-Joints on the PTO shaft regularly greased and it will save you headaches down the road.
Finally, don't discount buying a tractor just because it's old. I still regularly shred a 20-acre tract that I'm parking with a 1961 Ford PowerMaster 941 Diesel, in fact. It works well, but if I put it up for sale, I doubt I'd get $3,000 for it, including the 6' shredder!
Good luck. You may even find that driving that thing around is a good stress-relieving diversion from your ordinary routine. I know I do.