This will be long and I am new to this forum. If I am posting in the wrong place, please forgive me. Picked up a 1971 500 a few month ago. I have no experience with motorcycles, but could not pass up the $200 price tag.
Had been sitting in a garage, covered by a blanket since, at least, 1990. Motor and frame numbers match for 1971. Tank was full of crud. Carbs lacquered with slides stuck. No oil, clutch cover loose, front brake locked. Motor was not seized and turned over easily (perhaps too easily). So, I started reading this forum, downloaded every manual I could and read, read and read some more. Stock air box with new filter. Four into two (or is it correct to say two into one?) exhaust. 14,000 and some change on the odometer.
So I:
Sent the carbs off to be rebuilt.
Tank to a radiator shop (had to red coat the tank, as the rust was almost through the sides of the tank). Rebuilt the front brake and cylinder.
Cleaned front forks with new oil and seals.
New air filter for stock airbox.
Reassembled clutch and new clutch cable. Would shift through all gears.
Got the carbs back and put them on. New plugs. It started on the second try (no choke needed) and sounded great! Put the tank on and on the road for a few easy miles. Next day it started ok but would not idle smoothly. On acceleration, would not idle down properly. Pulled the new plugs and they were black, but not oily. So I:
Got new points and condensers and installed them. Points plate snug, with no wiggle room.
Borrowed a timing light and timed it.
Adjusted the valves (have now adjusted them three times, just to be sure).
Adjusted the cam chain.
Tested coil continuity (real weakness of mine is with the multitester--I know how to test continuity, just not sure of the proper setting on the meter). Primary on coil 1-4 5.1@200. 2-3 5.2@200. Secondary on 1-4 is where I am not sure of the proper setting. Could not get a set reading on either coil. Ranged from 11.9-19.2@200K, to 12-19@2000K on coil 1-4. 2-3 from 13.4-16.6@200K, to 13-16 @2000K.
Caps tested 7.46, 8.22, 8.18 and 8.33, 1-4.
Battery 12.4v.
Double plug at coils (black wire) 11.45v.
No real improvement. So with it appearing to run rich, tried to see if the carb insulators might be leaking. Tested with carb cleaner and the rpms stayed the same. Broke down and bought a compression tester (INNOVA brand from O'Reillys). I know an auto compression tester will result in lower compression numbers. Put in new plugs, started it up and warmed up the engine. Sounded great with new plugs!
Pulled all the plugs (after just 10 minutes or so the new plugs on 2-4 were black with 1 grey) and cylinder 1 was 90, 2-89, 3-89 and the really bad news, 4-72. Checked it twice. Used the starter for the test. Squirted some oil down 4 and it then tested 90, so may be a valve problem. Either way, it appears I need to rebuild the top end--valves, rings and check all specs for anything else that may need to be replaced/repaired. Am I on the right track?